The United States experienced the lowest rate of productivity growth during the
A. 1950's.
B. 1960's.
C. 1970's and 1980's.
D. 1990's and 2000's.
B. 1960's.
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The level of equilibrium expenditure at each price level determines
A) full employment. B) the points on the AE curve. C) the points on the AD curve. D) aggregate planned production. E) the price level.
Much of the research on the minimum efficient scale suggests that for many firms, economies of scale are:
A) relatively modest. B) nonexistent. C) substantial. D) heavily dependent on the minimum efficient scale of the firm's production process.
Residential mortgages historically carried a capital requirement of 4 percent. Why did these mortgages, bundled as part of the mortgage-backed securities issued by investment banks, turn out to be far more risky than historically indicated?
a. Rating agencies miscalculated the historical risk of traditional fixed-rate residential mortgages. b. Investment banks leveraged these mortgage-backed securities more than was allowable under SEC rules. c. Lower mortgage lending standards increased the likelihood that defaults would occur. d. Investment banks held too much capital relative to these mortgage-backed securities.
The formula for the cross-price elasticity of demand is percentage change in
A. quantity demanded of B/percentage change in income. B. quantity demanded of B/percentage change in price of A. C. quantity demanded of B/percentage change in price of B. D. price of B/percentage change in quantity demanded of A.