As the level of real interest rates rise, the amount of new investment will rise also.
Answer the following statement true (T) or false (F)
False
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Which of the following is an example of an externality?
A. Drug abuse affecting David’s health B. Sara taking a break from work C. A transaction between two parties, affecting them alone D. Tom’s smoking affecting his roommate’s health
Which of the following is not a characteristic of a perfectly competitive market?
A. Perfect information. B. High barriers to entry. C. Zero economic profit in the long run. D. Homogeneous products.
Gabriel operates a tree-trimming business in Maine. He charges the perfectly competitive price of $47 per hour. The marginal cost of working the 36th hour each week is $42; the marginal cost of working the 37th hour is $44; the 38th hour is $46; and the 39th hour is $48. How many hours should he work each week?
a. He should work 40 hours per week, because he can always earn more revenue by working more. b. He should work 39 hours per week, because he would have to lower his price if her wanted to work more than that. c. He should work 38 hours per week, because this is the workload that maximizes his net gain. d. He should work 36 hours per week, because the marginal cost of working rises after this point.
Convergence of output per capita across countries has come from
A) a convergence of saving rates. B) a convergence of the accumulation of capital. C) higher technological progress from the countries that started behind. D) all of the above