Refer to the scenario above. The increase in output due to a one-unit increase in capital is smallest at point ________
A) A B) B C) C D) D
D
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The most basic cause of unemployment in the United States is that
A) the natural rate of unemployment is much higher than zero. B) we are most of the time producing a real GDP below the natural real GDP. C) we are suffering from low productivity growth. D) we are converting from a predominantly industrial to a predominantly service-based economy. E) policymakers are constantly trying to hold down inflation.
Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
The store of value characteristic of money refers to the fact that:
A. people save most of their money. B. money is not valuable unless it is stored. C. money allows people to shift purchasing power into the future. D. money is the only way people have to store value.
Why should a perfect competitor produce at which price equals marginal cost?
What will be an ideal response?