The stock of capital ________ with any gross investment and ________ with any depreciation
A) increases; increases B) decreases; increases
C) decreases; decreases D) increases; decreases
D
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The United States provides a reasonable illustration of
A. a mixed economy. B. a pure market system. C. a government-dominated economy. D. a manufacturing economy. E. a transitioning economy.
During the 1990s positive technological change in the production of chicken caused the price of chicken to fall. Holding everything else constant, how would this affect the market for pork (a substitute for chicken)?
A) The demand for pork would decrease and the equilibrium price of pork would decrease. B) The demand for pork would increase because consumers could afford to buy more chicken and pork. C) The supply of pork would increase and the equilibrium price of pork would decrease. D) The demand for pork would decrease and the equilibrium price of pork would increase.
The GDP deflator of a country whose nominal GDP is $10.5 billion and real GDP is $8.5 billion is 123.5
a. True b. False Indicate whether the statement is true or false
When a non-discriminating monopolist is maximizing profit, then
a. its price equals its marginal cost b. its price equals its marginal revenue c. it is producing all units for which marginal revenue exceeds marginal cost d. its supply curve intersects the market demand curve e. its marginal cost curve intersects the market demand curve