Our gross savings as a percentage of GDP has declined from over 20% in 1960 to _________ percent in 2009.
A. about 14
B. just under 12
C. a little over 10
D. about 6
C. a little over 10
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Refer to Exhibit 14-1. What sequence of points shows the short- and long-run consequences of a fall in velocity under monetarist assumptions?
a. B-A b. A-E-B c. A-D-B d. B-D-A
Using Figure 1.3 and starting from PP1, an increase in the capacity to produce can be represented by a movement from
A. Point A to point C. B. Point B to point C. C. Point A to point B. D. Point C to point F.
Suppose that the price of computer chips increases by 20 percent during the early stages of an economic recovery. Intel, a chip manufacturer, increases its payroll by 1,000 workers. Intel's hiring of new workers is best described as a
a. long-run adjustment to the price change b. complete adjustment to the price change c. market-day adjustment to the price change d. short-run adjustment to the price change e. shift to the left in Intel's supply curve for computer chips
When a household lends money directly to a firm, the firm gives the household a
A. bond. B. dividend. C. certificate of investment. D. share of stock.