Refer to Figure 22-1. Within a country, the impact of wars and revolutions and their subsequent destruction of capital is reflected in the per-worker production function in the figure above by a movement from
A) B to A. B) B to C. C) C to A. D) A to B.
C
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A firm is spending the profit-maximizing amount on product development when
A) people perceive the firm's product to be better than those of its competitors. B) the marginal cost of product development is equal to the marginal revenue from product development. C) the price of the good is higher than its marginal cost. D) the advertising costs are covered. E) the firm's total revenue exceeds its total costs.
Which of the following is false?
A) International differences in tastes, if sufficiently large, could overturn the comparative advantage predictions of the HO model. B) The classical and HO models make similar assumptions about international differences in technology. C) The HO model predicts that some groups will be hurt by international trade. D) Both the classical and the HO models predict that countries gain from international trade.
If the demand for money is relatively stable,
A) the velocity of money will be constant. B) the velocity of money will grow at a steady and predictable rate. C) a fixed growth rate for the nominal money supply will lead to a stable growth rate of nominal GDP. D) B and C are both correct.
Productivity growth is closely linked to the average level of:
a. age. b. education. c. technology. d. wages.