Economic growth occurs as a result of all of the following EXCEPT
A) more labor hours.
B) growth of capital.
C) technological progress.
D) less saving.
D
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A monopolist will always end up choosing to operate
a. even if its profits are negative. b. on the elastic portion of its demand curve. c. until such time as a new competitor enters its market. d. only if it can capture the entire consumer surplus.
An expectation may fail to be rational if
A) relevant information was not available at the time the forecast is made. B) relevant information is available but ignored at the time the forecast is made. C) information changes after the forecast is made. D) information was available to insiders only.
Drive with Us is an automobile retailer and pays floor plan financing to finance the cars they hold in inventory. If the interest rate on their floor plan financing is 5 percent, how much do they pay in interest per day on a car with a wholesale price of $40,000?
A) $5.48 B) $6.75 C) $4.52 D) $5.98
If the exchange rate of yen for dollars increases from 100 yen = $1 to 110 yen = $1, then:
a. Japanese-produced goods would become more expensive. b. the dollar has depreciated. c. the yen has appreciated. d. U.S.-produced goods would become more expensive. e. U.S. exports would increase.