If the growth rate of resources is zero and real output is growing at 4 percent, then _____
a. the stock of capital has fallen by 4 percent
b. economic growth has fallen by 4 percent
c. total factor productivity has risen by 4 percent
d. the stock of labor has fallen by 4 percent
e. the percentage share of real GDP received by capital has fallen by 4 percent
c
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Refer to Figure 8.2. As the competitive industry, not just the firm in question, moves toward long-run equilibrium, how much profit will the firm earn?
A) $0 B) $306 C) $312 D) $1000. E) $1024
Under monopsony, marginal factor cost is
A) equal to the wage rate. B) below the wage rate but increases as more workers are hired. C) greater than the wage rate. D) downward sloping.
The real rate of return on holding cash ________ inflation is correctly anticipated.
A. is higher when B. equals the nominal interest rate when C. is lower when D. does not depend on whether
Refer to the diagram, in which C 1 is the before-tax consumption schedule. Other things being equal, the economy would enjoy the greatest built-in stability with consumption schedule:
A. C 1 .
B. C 2 .
C. C 3 .
D. C 4 .