Which of the following examples, ceteris paribus, is most likely to cause a rightward shift in that nation’s long-run aggregate supply curve?
a. The United Kingdom experiences a decline in labor productivity.
b. The French government increases government regulations on business.
c. The price of oil temporarily declines in the United States.
d. The Netherlands experiences an increase in its stock of capital.
d. The Netherlands experiences an increase in its stock of capital.
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Since it does not have to be converted into anything else to make purchases, ________ is the most liquid asset
A) money B) stock C) artwork D) gold
Suppose that Year 1 is the base year. Year 2 real GDP is
A) $200. B) $270. C) $310. D) $390.
The law of diminishing marginal returns states that
a. long-run average cost declines as output increases b. if the marginal product is above the average product, the average will rise c. as units of a variable input are added to a given amount of fixed inputs, the marginal product of the variable input eventually diminishes d. as a person consumes more of a good, the marginal satisfaction from that good eventually diminishes e. if marginal product is positive, total product rises
Which of the following is not a threat to bricks-and-mortar video rental stores?
a. on-demand movies delivered by broadband cable b. rental services that deliver DVDs by mail c. digital movies and TV shows available on Wal-Mart's Web site d. None of the answers is a threat. e. All of the answers are threats.