Refer to the above table. Two countries have per capita real GDPs in 2010 of $5000. If country A has a 4 percent growth rate and Country B a 5 percent growth rate, what will the per capita real GDPs of each be in the year 2060?
A) A: $15,000; B: $30,000 B) A: $40,000; B: $60,000
C) A: $35,550; B: $57,500 D) A: $24,000; B: $35,200
C
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
If you pay $400 in taxes when you earn $10,000 and $600 in taxes when you earn $12,000, you are subject to a marginal tax rate of
A) 4%. B) 5%. C) 6%. D) 8%. E) 10%.
As opposed to general-equilibrium analysis, partial equilibrium analysis looks
A) at an equilibrium and changes to it in a single, isolated market. B) at how changes in one market effect other markets. C) at how equilibrium is determined in all markets simultaneously. D) at either price or quantity movements.
M2 consists of M1 plus savings deposits, small time deposits, money market mutual funds, and a few minor categories.
Answer the following statement true (T) or false (F)