Moore's law refers to which of the following?
A) The steady state rate of growth of output per capita will equal the rate of growth of technological progress.
B) The number of transistors in a chip would double approximately every 18-24 months.
C) The steady state rate of growth of output per effective worker will be zero.
D) The saving rate that maximizes steady state consumption is .5 (s = 0.5).
E) none of the above
B
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Refer to Table 15-3. If Comcast wants to maximize its profits, what price (P) should it charge and how many cable subscriptions per month (Q) should it sell?
A) P = $12; Q = 8 B) P = $16; Q = 4 C) P = $14; Q = 6 D) P = $15: Q = 5
Measures of income before intervention are calculated on an annual rather than a lifetime basis.
A. True B. False C. Uncertain
Which of the following is a reason why a particular job may pay a higher-than-average wage rate?
a. low educational requirements b. high fringe benefits c. free parking d. high risk e. low skill requirement
The modern view of the Phillips curve indicates that in the long run there
a. is no trade-off between inflation and unemployment. b. is a definite trade-off between unemployment and inflation. c. will be a trade-off if the rational expectations hypothesis is correct. d. may be a long-run trade-off between unemployment and inflation, but there is no such trade-off in the short run.