The historical record for the United States since 1900 shows
A) mostly positive economic growth, with two substantial periods of negative economic growth.
B) economic growth for about half the years and economic decline for the other half.
C) growth until 1970 and then a period of constant per capita real GDP.
D) continuous economic growth, although at different rates, throughout the entire century.
A
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Over the long run, a government's fundamental source of revenues is
A) printing money. B) user fees and taxes. C) exports. D) gold sales.
The more a firm invests in a new production technology, the lower its marginal costs. Which of the following scenarios involving this incumbent firm and a potential entrant makes the least economic sense?
a. The incumbent overinvests to deter entry when this investment is observable to the entrant. b. The incumbent overinvests to deter entry when this investment is unobservable to the entrant. c. The incumbent underinvests to accommodate entry when this investment is observable and they compete in prices. d. The incumbent overinvests to accommodate entry when this investment is observable and they compete in quantities.
The price of a new textbook is? $60 in one year and? $75 two years? later, while the price of a used copy of the textbook increased from? $25 to? $37.50. The relative price of a new textbook
A) increased by 25 percent.
B) increased from 2.4 to 3.
C) decreased from 2.4 to 2.0.
D) decreased from 1.4 to 1.25.
The aggregate supply and aggregate demand model describes the interaction of which macroeconomic variables?
A. Output and number of sellers B. Prices and immigration C. Output and the price level D. Employment and immigration