If a country devotes its resources to acquiring more physical capital it will:
A. increase its productivity.
B. increase its current consumption.
C. decrease its output per person.
D. All of these are true.
D. All of these are true.
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When the marginal productivity of labor decreases, the demand curve for labor in a perfectly competitive market
A. does not change. B. becomes steeper. C. shifts to the left. D. shifts to the right.
(Advanced analysis) Alex wants to have $800 saved up at the end of 10 years. If he deposits $500 today, what annually compounded rate of interest would he have to earn to reach his goal?
A. 4.8 percent. B. 5.2 percent. C. 5.7 percent. D. 6.2 percent.
Refer to the information provided in Figure 26.4 below to answer the question(s) that follow.
Figure 26.4Refer to Figure 26.4. Suppose the economy is at Point A, a decrease in aggregate demand moves the economy to Point
A. E. B. B. C. C. D. D.
The demand for a product X is highly inelastic and the supply of product X is highly elastic. The burden of an excise tax on product X will be borne ___________
Fill in the blank(s) with the appropriate word(s).