All else equal, continued increases in the labor supply in an economy will lead to
A) continued increases in the capital stock.
B) higher levels of total factor productivity.
C) smaller increases in real GDP.
D) an increase in labor's share of income.
C
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Investment is defined as the purchase of
A) financial assets and inventories only. B) new capital goods but not additions to inventories. C) any financial asset only. D) new capital goods and additions to inventories. E) additions to inventories only.
Suppose your college sharply raises tuition rates next year. Other things constant, what is the least likely to occur?
A) The overall demand for courses at your college will fall. B) Your college bookstore will sell fewer textbooks. C) It will be easier to find parking at your college. D) Fewer students will use your college library.
After firm A producing one good acquired another firm B producing another good, it raised the prices for the bundle of goods. One can conclude that the goods were
a. substitutes b. complements c. not related d. None of the above
International trade forces countries to consume a combination of goods that is inside their production possibilities curve
a. True b. False Indicate whether the statement is true or false