The largest component of the U.S. GDP is:
A. NX
B. C
C. I
D. G
Answer: B
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If the price is below the equilibrium price,
A) there is a surplus. B) there is a shortage. C) the supply curve will shift rightward. D) the supply curve will shift leftward. E) the demand curve will shift leftward.
Suppose that a firm uses both labor (L) and capital (K) as inputs. The firm's long-run production function is Q = F(L,K) = 5?L?K. If the firm has 100 units of capital, what is its short-run production function?
A. Q = F(K) = 50?K B. Q = F(L) = 500?L C. Q = F(L,K) = 50?L?K D. Q = F(L) = 50?L
Supply-side economists believe that, if the marginal tax rates are high, we can raise tax revenue by ________.
Fill in the blank(s) with the appropriate word(s).
If the structural stagnation hypothesis is true, what happened to the economy in the early 2000s that made it prone to a financial crisis?
A. Too-expansionary supply-side policies B. Increased trade restrictions C. Too-expansionary demand-side policies D. Slowing technological advance