Endogenous growth models
a. predict absolute convergence.
b. predict conditional convergence.
c. do not predict convergence.
d. predict convergence among rich countries but not poor countries.
C
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Taxable income is
A. Adjusted Gross Income - Exemptions. B. Adjusted Gross Income - Exemptions - Deductions - Credits. C. Adjusted Gross Income - Exemptions - Deductions. D. Adjusted Gross Income - Exemptions - Deductions - Credits - Taxes Withheld.
The production possibilities curve in Figure 2.1 illustrates the notion of
A) opportunity cost. B) increased factory goods production. C) diminishing resources. D) increased farm produce production.
An increase in the interest rate, other things constant, will: a. shift the demand for loanable funds curve to the right. b. shift the demand for loanable funds curve to the left. c. decrease the quantity of loanable funds supplied
d. decrease the quantity of loanable funds demanded. e. shift the supply of loanable funds curve to the right.
Under monopsony, the marginal factor cost of a worker is equal to
A) the additional worker's wage rate only. B) the additional worker's wage rate plus the increase in the wages of all other existing workers. C) the increase in the wages of all other existing workers. D) the difference between the worker's wage rate and the lower wage rate received by workers who have already been hired.