An increase in the population growth rate in the Solow growth model causes the growth in output per worker to be higher in the long run or steady state
a. true
b. false
Answer: b. false
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Three factors explain the risk structure of interest rates
A) liquidity, default risk, and the income tax treatment of a security. B) maturity, default risk, and the income tax treatment of a security. C) maturity, liquidity, and the income tax treatment of a security. D) maturity, default risk, and the liquidity of a security.
The fundamental economic problem faced by individuals is
A) scarcity. B) comparative advantage. C) fair allocations of goods and services. D) randomness in the distribution of income.
Suppose a monopolist knows the own price elasticity of demand for its product is ?3 and that its marginal cost of production is constant MC(Q) = 10. To maximize its profit, the monopoly price is:
A. $6.67 per unit. B. $10 per unit. C. $1.50 per unit. D. $15 per unit.
Refer to the above table. The equilibrium price of tablets is
A. $500. B. $550. C. $650. D. $700.