Data shows that countries that invest more and channel more of those investments into productive projects will generally have
a. higher rates of current consumption.
b. higher future incomes.
c. lower rates of economic growth.
d. lower real interest rates.
B
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The intersection of the average variable cost curve and the marginal cost curve is called the zero-profit point
a. True b. False Indicate whether the statement is true or false
The higher a country's tax rates, the more likely that country will be
a. at the top of the Laffer curve. b. on the positively sloped part of the Laffer curve. c. on the negatively sloped part of the Laffer curve. d. experiencing small deadweight losses.
Consider the indifference curve map and budget constraint for two goods, X and Y. Suppose the good on the horizontal axis, X, is normal. When the price of X increases, the substitution effect
a. and income effect both cause an increase in the consumption of X. b. causes a decrease in the consumption of X, and the income effect causes an increase in the consumption of X. However, the substitution effect is greater than the income effect. c. causes an increase in the consumption of X, and the income effect causes a decrease in the consumption of X. However, the substitution effect is greater than the income effect. d. and income effect both cause a decrease in the consumption of X.
Which of the following shifts long-run aggregate supply left?
a. a decrease in either natural resources or the human capital stock. b. a decrease in the human capital stock, but not natural resources. c. a decrease in natural resources, but not the human capital stock. d. neither a decrease in natural resources nor the human capital stock.