If capital per hour of labor decreases, real GDP per hour of labor
A) decreases because the level of technology decreases.
B) increases because the level of technology increases.
C) increases for a given level of technology.
D) decreases for a given level of technology.
D
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Answer the following statements true (T) or false (F)
1) In the short run, managers are limited because at least one input is fixed. 2) The long-run marginal cost curve intersects the minimum point on the long-run average cost curve. 3) The long-run profit-maximizing quantity is found by setting the long run marginal cost equal to the long-run average cost. 4) In response to a decrease in the market demand, to maximize short-run profits, managers of perfectly competitive firms will decrease production by employing fewer fixed inputs. 5) At its current production level, a perfectly competitive firm's marginal revenue and long-run marginal cost are equal to $4 and its long-run average cost is $3, it should expect the market price of its product to fall.
According to the U.S. Bureau of Economic Analysis, by the third quarter of 2014, foreign investors had accumulated ________ of U.S. assets.
a. $30.8 billion b. $30.8 trillion c. $24.6 trillion d. $2.46 trillion
What is the determining factor of the market mechanism?
A.) The price of the good. B.) The government. C.) The presence of foreigners. D.) None of the above is true.
In Europe, government regulations discourage consumer credit. "It's to protect the consumer from himself," says Jacques Zeegers, secretary general to the Belgian Banking Association. As far as Mr. Zeegers is concerned, the government should worry that there is a failure caused by:
A. rationality problems of individuals. B. violations of inalienable rights. C. economic efficiency. D. distributional issues.