Which of the following is a form of capital for most economics professors?
A) Chalk
B) Paper
C) Calculators
D) All of the above
E) None of the above is capital, since economists define capital as liquid assets.
D
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Refer to the above table. What does total product equal when 4 units of labor are used?
A) 1328 B) 332 C) 320 D) 960.
Continued U.S. economic growth requires little institutional and technological change
Indicate whether the statement is true or false
Write the equation representing the short-run Phillips curve
Often a bank will require a loan officer to make personal visits on customers with loans outstanding. This is encouraged because:
A. the bank wants to make sure the business is busy. B. this is an effective monitoring technique and should reduce moral hazard. C. the bank has excess funds available and hopes to make another loan to the business. D. the bank worries about another bank trying to steal their customers.