Refer to Figure 22-2. Assuming no technological change, if the United States increases capital per hour worked by $40,000 every year between 2012 and 2016, we would expect to see
A) real GDP per hour worked will be lower in 2016 than it was in 2012.
B) the per-worker production function will get flatter over time.
C) real GDP per hour worked will increase by the same increment each year between 2012 and 2016.
D) the per-worker production function will shift up every year there is increase in capital per hour worked.
B
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The wealth of nations is determined by the resources available to a nation and was discussed in 1776 by the famous economist, __________________.
Fill in the blank(s) with the appropriate word(s).
A production indifference curve shows all combinations of input quantities capable of producing a given quantity of output.
Answer the following statement true (T) or false (F)
Financial intermediaries are able to act as delegated monitors for individual savers because
A) other investors are unable to gain a free ride on their monitoring efforts. B) borrowers consider this role to be traditional for financial intermediaries and are willing to put up with it. C) the federal government has granted them waivers from laws protecting privacy. D) they employ a vast network of private detectives to carry out their monitoring role.
The slope of the supply of loanable funds curve represents the
a. positive relation between the real interest rate and investment. b. positive relation between the real interest rate and saving. c. negative relation between the real interest rate and investment. d. negative relation between the real interest rate and saving.