Components of economic growth are:
a. physical capital, human capital, and technology.
b. physical capital, human capital, and savings.
c. education, physical capital, and technology.
d. physical capital, working capital, and technology.
a. physical capital, human capital, and technology.
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Marginal physical product can tell a producer
a. at what point to stop adding inputs to the production process. b. how much profit will be made at each level of production. c. how much the last input added to the total amount of revenue. d. how much the last input added to the total amount of production.
Starting with an exchange rate of $1 = ¥110, and a price tag of ¥5,000 for a Japanese good, what happens to the dollar price of the good if the yen depreciates by 4 percent?
A) the dollar price of the good rises from $45.45 to $47.72 B) the dollar price of the good falls from $45.45 to $43.64 C) the dollar price of the good falls from $550,000 to $522,500 D) the dollar price of the good rises from $550,000 to $577,500 E) ?the dollar price of the good rises falls from $450 to $427.50
If the federal funds rate is at its target 3.5 percent, inflation is 1.5 percent, and target inflation is 2.5 percent. If the Taylor rule is accurate, the output was:
A. 1.5 percent above potential. B. 1.5 percent below potential. C. 1 percent above potential. D. 1 percent below potential.
In order to maintain a fixed exchange rate:
A. a country must constantly increase its money supply. B. Maintaining a fixed exchange rate is unrelated to the money supply. C. a country must constantly decrease its money supply. D. a country cannot change its money supply.