Isoquants
A) hold utility constant.
B) hold capital constant.
C) hold labor constant.
D) hold output constant.
D
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The Great Moderation describes the period
A) of relatively steady growth in real GDP between 1991 and 2008. B) of very slow growth in real GDP after 1990. C) between 2000 and 2008 when potential GDP did not increase. D) between 1990 and 2005 when real GDP grew significantly more slowly than did potential GDP. E) of relatively steady growth in real GDP after the year 2000.
The government makes all economic decisions in a centrally planned economy
Indicate whether the statement is true or false
If we say that a price is too high to clear the market, we mean that:
A. the price of the good is likely to rise. B. quantity supplied exceeds quantity demanded. C. quantity demanded exceeds quantity supplied. D. the equilibrium price is above the current price.
When purchasing a future contract, the buyer of a futures contract:
A. must pay a set amount to the seller regardless of what the future price turns out to be. B. assumes very little risk of the future price fluctuation of some asset. C. agrees to pay the seller later where the payment is based on the future price of some asset. D. none of these are true.