A country has $3 billion of domestic investment and net exports of -$2 billion. What is its saving?
a. -$1 billion
b. -$2 billion
c. $1 billion
d. $2 billion
c
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Suppose the economy's production function is Y = AK0.3N0.7. Suppose K = 200, N = 2000, and A = 1. Calculate the marginal product of capital
A) 1.0 B) 1.5 C) 2.0 D) 2.5
Starting in 1974, the conventional M1 money demand function began to severely ________ the demand for money. Stephen Goldfeld labeled this phenomenon "the case of the missing ________."
A) underpredict; velocity B) overpredict; velocity C) underpredict; money D) overpredict; money
Which of the following is an implication of the law of diminishing returns?
a. Total output will decline as more workers are hired. b. In the long run, average total cost will eventually decline as output is expanded. c. In the short run, expansion of output will eventually lead to increases in marginal cost and average total cost. d. A doubling of all inputs will lead to more than a doubling of output.
Measured as a share of GDP, the total federal debt
a. increased during the 1990s, but it has declined substantially during the most recent decade. b. increased substantially during the recession of 2008-2009, but it is still well below the levels of the 1960s and 1970s. c. has steadily trended downward during both the 1990s and the most recent decade. d. is now approximately 100 percent of GDP, which is higher than at any time since the years immediately following World War II.