If the actual capital-labor ratio is above the steady-state capital labor ratio, growth from convergence will be ________, and the economy will grow ________ than it will along a balanced growth path
A) negative; slower
B) negative; faster
C) positive; slower
D) positive; faster
A
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The automobile industry in Richland has a Herfindahl-Hirschman Index of 5,600. This implies that the automobile industry in Richland is ________
A) dominated by a few buyers B) moderately concentrated C) highly concentrated D) perfectly competitive
Of the two conflicts, __________ get(s) more severe the larger the firm
A) the stockholder-lender conflict B) manager-stockholder conflict C) both D) neither
To make things simpler and focus attention on what really matters, economists:
A. use assumptions. B. ignore all variables. C. think at the margin. D. respond to incentives.
Recently we have run a _________ balance of trade on goods and a ___________ balance of trade on services.
Fill in the blank(s) with the appropriate word(s).