Which of the following is an example of a private good?
a. Cable television
b. Health care
c. The judiciary
d. Cars
d
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The output-capital ratio (Y/K) depends on the following four determinants. Which determinant of these four is most likely to be affected by government growth policy?
A) the nature of the production function B) the depreciation rate C) the growth rate of labor input D) the growth of capital per person
When average total cost is decreasing as output expands: a. average fixed cost must be increasing
b. average variable cost must be falling. c. marginal cost must be greater than average total cost. d. marginal cost must be less than average total cost.
In order for the crude quantity theory to be valid, ______ and ______ need to be constant.
Fill in the blank(s) with the appropriate word(s).
If net investment is positive, then
A. gross investment is greater than depreciation. B. depreciation is negative. C. gross investment is less than depreciation. D. gross investment equals depreciation.