The quantity of real GDP supplied depends on the # randomize
A. Level of aggregate demand.
B. Quantity of capital, bonds, and stocks.
C. Quantity of labor, the quantity of capital, and the state of technology
D. price level, the unemployment rate, and the quantity of government expenditures on goods and services
Answer: C. Quantity of labor, the quantity of capital, and the state of technology
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Susie knows that too many sugary treats, while delicious when eaten, have long-term adverse effects on weight and health. Based on this information, a behavioral economist would expect Susie to:
A. carefully weigh the short-term benefits against the long-term costs and make a rational decision about how many treats to eat. B. eat more sugary treats than is optimal, as she likely gives more weight to present events and outcomes than to ones in the future. C. give away most of her sugary treats in an effort to resist temptation. D. compute the caloric intake and calculate how many hours of exercise would be needed to burn off the calories from each treat.
Assume that an economy experiences both positive population growth and technological progress. Once the economy has achieved balanced growth, we know that growth rate of K/NA is
A) gA gN. B) gA + gN. C) 0. D) gA. E) none of the above
Refer to the above table. Suppose one country has a per capita real GDP of $1000 and another has a per capita real GDP of $10,000, or ten times larger. If both countries have a growth rate of 5 percent, how much larger will per capita real GDP be in the second country be than the first after 50 years?
A) 8 times larger B) 5 times larger C) 10 times larger D) 4 times larger