Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The best point for society would be
A. either Point B or Point C, as the total amount being produced at either of these points is approximately the same.
B. at any of the labeled points, as all of the points represent an efficient allocation of resources.
C. Point C, as at this point there are approximately equal amounts of LCD and OLED televisions being produced.
D. indeterminate from this information, as we don't have any information about the society's desires.
Answer: D
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The marginal propensity to import is larger in Mexico than in the United States. As a result,
A) there is less autonomous investment in Mexico. B) the expenditure multiplier is larger in Mexico. C) the expenditure multiplier is larger in the United States. D) induced expenditure is larger in Mexico. E) there is more autonomous expenditure in Mexico.
Because there are ________ for total factor productivity, ________ must be the explanation for increases in labor productivity and the standard of living
A) diminishing marginal returns; capital accumulation B) no diminishing marginal returns; total factor productivity C) no diminishing marginal returns; capital accumulation D) diminishing marginal returns; total factor productivity
The real rate of interest is the
A) nominal rate of interest minus the anticipated rate of inflation. B) current rate actually paid by the borrower. C) difference between the bank's lending and savings rates. D) current rate which the government pays on its debt.
In the importing country, the most likely effects of tariffs and/or import quotas is to _______ prices and ________ consumption of the protected goods.
A) raise; reduce B) raise; raise C) raise; not affect D) reduce; reduce