The formula for the growth rate of multifactor productivity is
A) a = y + bk + (1 - b)n.
B) y = a + bk + bn.
C) a = y - bk - (1 - b)n.
D) y = a - b/k(1 - b)n.
C
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Industria specializes in the production of heavy machinery. It exports machinery to the rest of the world and imports oil from the Gulf countries. Based on this information, we can conclude that Industria is a(n) ________ economy
A) closed B) communist C) command D) open
An increase in the demand for a resource
a. will cause the price of that resource to fall. b. may be the result of a decrease in the demand for products utilizing this resource. c. will cause the price of the resource to fall by a smaller amount in the short run than in the long run. d. will increase the price of the resource and, thereby, increase the incentive of potential suppliers to provide the resource in the future.
Which of the following is NOT true about subprime mortgage loans:
A. They played a central role in the financial crisis of 2007-2008 B. They were encouraged by the Federal government for many years before the financial crisis C. They had always been discouraged by the government, and even banned in some cases D. They were considered high-risk loans because the borrowers had poor credit ratings
Net exports is the amount of products and services that foreigners buy from our economy (exports) _________ what we bought from their economy (imports).
Fill in the blank(s) with the appropriate word.