The capital-output ratio is measured by dividing
a. the capital stock by labor
b. output by the capital stock
c. the capital stock by GDP
d. the change in labor by GDP
e. GDP by labor
C
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Suppose that the price of flour used to produce bagels increases. Hence the equilibrium price of a bagel ________, and the equilibrium quantity ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases E) does not change; does not change
A price ceiling leads to a(n) ________ if below equilibrium price
A) increase in social well-being B) increase in producer surplus C) decrease in market demand D) decrease in total surplus
What is the relationship between the marginal cost, minimum supply-price, and supply?
What will be an ideal response?
In 2007, the public debt was
a. roughly $500 million b. nearly $1 trillion c. nearly $3 trillion d. $9 trillion e. over $25 trillion