Assume that in the economy real GDP grows at a constant rate. There has just been a decrease in the rate of growth of the population. This implies that the
A) rate of growth of per capita real GDP will decrease.
B) rate of growth of per capita real GDP will increase.
C) rate of growth of capital accumulation will decrease.
D) rate of growth of capital accumulation will increase.
B
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The short-run aggregate supply curve is most likely to shift to the right if ________.
A. productivity decreases B. input prices decrease C. wages increase D. sales taxes increase
If a seller's reservation value for a good is $10 and the price at which the good is sold is $15, his producer surplus is:
A) $25. B) $150. C) $1.5. D) $5.
In the circular flow, an increase in the money supply tends to result when
a. planned I equals planned S. b. planned I is less than planned S. c. planned I is greater than planned S. d. there is a surplus government budget.
As long as an item has never been sold, its value is counted in GDP for the year in which it is finally sold.
Answer the following statement true (T) or false (F)