An example of physical capital is:
A. a tractor.
B. a farmer.
C. a high-yield seed varietal.
D. All of these are examples of physical capital.
A. a tractor.
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Sue's Surfboards is the sole renter of surfboards on Big Wave Island. Sues demand and marginal revenue curves are illustrated in the figure above. Sue's Surfboards currently rents 15 surfboards an hour. Sue's total revenue from the 15 surfboards is
A) $300. B) $225. C) $150. D) $10.
An increase in the value of the U.S. dollar relative to the Japanese yen will
a. increase aggregate demand in the United States. b. decrease aggregate supply in the United States. c. increase aggregate demand in Japan. d. increase aggregate supply in Japan.
If buyers today become more willing and able than before to purchase larger quantities of stand up paddle boards (SUPs) at each price of SUPs, then
a. we will observe a movement downward and to the right along the demand curve for SUPs. b. we will observe a movement upward and to the left along the demand curve for SUPs. c. the demand curve for SUPs will shift to the right. d. the demand curve for SUPs will shift to the left.
Which of the following describes the Volcker disinflation most accurately?
a. Almost all of the public believed that the Fed would keep money growth low, so unemployment rose less than it would have otherwise. b. Almost all of the public believed that the Fed would keep money growth low, so unemployment rose more than it would have otherwise. c. Much of the public did not believe that the Fed would keep money growth low, so unemployment rose less than it would have otherwise. d. Much of the public did not believe that the Fed would keep money growth low, so unemployment rose more than it would have otherwise.