Stocks represent partial ownership of a firm
Indicate whether the statement is true or false
TRUE
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Refer to Figure 11-1. Technological change is illustrated in the per-worker production function in the figure above by a movement from
A) A to B. B) B to C. C) D to C. D) B to A.
Crowding out refers to the government's increased demand for credit, which:
a. displaces some private sector consumption by decreasing the price level. b. displaces some private sector borrowing by decreasing the interest rate. c. displaces some private sector borrowing by increasing the interest rate. d. hires labor away from the private sector e. displaces some import purchases by the private sector.
If the Federal Reserve increases the supply of money in the market, then bond prices will _____ and interest rates will _____.
a) fall; rise b) rise; fall c) rise; rise d) fall; fall
When an economy is operating at the steady state, we know that
A) steady state saving equals consumption. B) steady state saving is less than total consumption. C) steady state saving is equal to depreciation per worker. D) steady state saving exceeds depreciation each year by a constant amount. E) none of the above