In the graph of the Solow growth model, at any point to the right of the steady-state intersection we have national saving per person ________ than steady-state investment per person, causing (K/N) to ________
A) greater, increase
B) greater, decrease
C) less, increase
D) less, decrease
D
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The table above gives Jane's total utility from magazines and CDs. The price of a magazine is $4 and the price of a CD is $10 and Jane's budget is $88. What is Jane's total utility when she maximizes her utility?
A) 70 units B) 1516 units C) 2536 units D) 2586 units
In the long-run ISLM model and with everything else held constant, the long-run effect of a tax cut is to ________ real output and ________ the interest rate
A) increase; increase B) increase; not change C) not change; increase D) not change; decrease
Cartels:
a. encourage competition. b. attempt to restrict output in order to raise prices. c. rely on legally enforceable contracts between cartel participants. d. rely on advertising and packaging to increase profits. e. All of the above.
A futures contract hedges against the risks associated with the volatility of spot price
Indicate whether the statement is true or false