Per capita income growth is derived by dividing a country's income growth by its
a. money growth
b. production growth
c. productivity growth
d. population growth
e. output growth
D
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Typically bond prices fall as interest rates rise
Indicate whether the statement is true or false
Freezing temperatures in California have sharply reduced the supply of oranges in the U.S. You predict that the price of oranges will ________, and the more elastic the demand for oranges, the ________ will be the effect on the price
A) fall; smaller B) fall; greater C) rise; smaller D) rise; greater
Consider an industry that is in long-run equilibrium. An increase in demand leads to no change in the price of the good. We know that this is
A) a decreasing cost industry. B) a constant cost industry. C) an increasing cost industry. D) not a competitive industry.
It is possible to observe a positive nominal interest rate together with a negative real interest rate
a. True b. False Indicate whether the statement is true or false