The law of diminishing marginal returns is the same as increasing returns to scale.
Answer the following statement true (T) or false (F)
False
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In the Solow model, if f(k) = 2k0.5, s = 0.3, n = 0.05, and d = 0.15, what is the value of k at equilibrium?
A) 1 B) 3 C) 6 D) 9
The long-run aggregate supply curve at potential national income is analogous to:
a. the short-run aggregate demand curve at potential national income. b. the long-run Phillips curve at the natural rate of unemployment. c. the long-run aggregate demand curve at each price level. d. the short-run Phillips curve at the natural rate of unemployment. e. the horizontal portion of the Phillips curve.
In which of the following economic theories is it possible for an increase in the money supply to lead to a decrease in Real GDP in the short run?
A) Keynesian theory B) Monetarist theory C) New classical theory D) a and b E) a and c
Norway is a country that currently exceeds the U.N.'s Millennium Aid Goal for donor country's contribution of GDP.
Answer the following statement true (T) or false (F)