In the bathtub analogy, which of the following is a stock variable?
A) the amount of investment
B) the rate of depreciation
C) the amount of capital-per worker
D) the Cobb-Douglass value
C
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Keynes assumed that money has ________ rate of return
A) a positive B) a negative C) a zero D) an increasing
Pure mercantile system is an economic system characterized by the private ownership of the resources
Indicate whether the statement is true or false
Which statement is true?
A. Usury laws hurt some borrowers, but don't interfere with the price mechanism. B. Usury laws hurt some borrowers and interfere with the price mechanism. C. Usury laws interfere with the price mechanism, but don't hurt borrowers. D. Usury laws neither interfere with the price mechanism, nor hurt borrowers.
Supply is said to be inelastic when the:
A. percentage change in quantity supplied is greater than the percentage change in price. B. change in quantity supplied is greater than the change in price. C. percentage change in quantity supplied is less than the percentage change in price. D. change in quantity supplied is less than the change in price.