In the Solow model, if f(k) = 2k0.5, s = 0.25, n = 0.05, and d = 0.2, what is the value of k at equilibrium?
A) 1
B) 2
C) 3
D) 4
D
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If a 25% change in price results in a 40% change in quantity supplied, then the price elasticity of supply is about
a. 0.63, and supply is elastic. b. 0.63, and supply is inelastic. c. 1.60, and supply is elastic. d. 1.60, and supply is inelastic.
To prospective employers, an honors degree from a highly selective college is:
A. only a credible signal about a whether job applicant is intelligent and hardworking if the job requires a college degree. B. not a credible signal about whether a job applicant is intelligent and hardworking. C. a credible signal about whether a job applicant has had a job before. D. a credible signal about whether a job applicant is intelligent and hardworking.
?Classical theory advocates _____________ policy and Keynesian theory advocates ______________ policy.
A. ?nonintervention; intervention B. ?active; nonstabilization C. ?stabilization; fixed wage D. ?fixed rule; passive
If a wealthy nation such as the United States trades with a poorer, less developed nation like Cambodia, then it is likely true that:
A. Cambodia is pressured to enter trade and not benefiting at all. B. the United States is being charitable and not benefiting from the trade at all. C. the United States is taking advantage of Cambodia and is the only beneficiary to the trade. D. both the United States and Cambodia can benefit from trading.