In the Solow growth model, the growth rate of real GDP per worker depends on the ________, and in the AK growth model, the growth rate of real GDP per worker depends on the ________
A) rate of depreciation; rate of dilution
B) investment growth; rate of population growth
C) growth rate of the capital stock; growth rate of the labor force
D) rate of labor-augmenting technological change; national saving rate
D
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At the equilibrium point of a market,
a. supply equals demand. b. neither demanders nor suppliers are satisfied. c. the quantities supplied and demanded are equal. d. suppliers will refuse any price increases offered by demanders.
Refer to Scenario 5.2. Which of the following is true?
A) Randy has a higher expected expense than Samantha for the car. B) Randy has a lower expected expense than Samantha for the car. C) Randy and Samantha have the same expected expense for the car, and it is somewhat less than $20,000. D) Randy and Samantha have the same expected expense for the car: $20,000. E) It is not possible to calculate the expected expense for the car until the true probabilities are known.
Under perfect competition, if an industry is characterized by positive economic profits in the short run:
a. firms will leave the market in the long run and the short-run supply curve will shift outward. b. firms will enter the market in the long run and the short-run supply curve will shift outward. c. firms will enter the market in the long run and the short-run supply curve will shift inward. d. firms will leave the market in the long run and the short-run supply curve will shift inward.
The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A