As real GDP falls,
a. money demand rises, so the interest rate rises.
b. money demand rises, so the interest rate falls
c. money demand falls, so the interest rate rises.
d. money demand falls, so the interest rate falls.
d
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If the saving rate increases, break-even investment will be ________ than investment, and GDP per worker will ________
A) greater; increases B) greater; decreases C) less; increases D) less; decreases
The negative slope of an indifference curve means that the consumer must give up quantity of one good as the quantity of another good increases in order for total utility to ____
a. remain constant. b. increase c. decrease d. normalize.
When a new good is introduced, consumers have more variety from which to choose, and this in turn increases the cost of maintaining the same level of economic well-being
a. True b. False Indicate whether the statement is true or false
Which of the following is not correct?
a. Countries that have had higher output growth per person have typically done so without higher productivity growth. b. A country's standard of living and its productivity are closely related. c. Productivity refers to output produced per hour of work. d. Increases in productivity can be used to increase output or leisure.