In the production function Y = AF(K, N), total factor productivity is
A) Y/A.
B) A.
C) K/N.
D) Y/N.
B
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In the above figure, if the interest rate is 2 percent per year, the ________ because ________
A) demand for money curve will shift; the quantity of money demanded is less than the quantity of money supplied B) demand for money curve will shift; the quantity of money demanded is greater than the quantity of money supplied C) interest rate will change; the quantity of money demanded is less than the quantity of money supplied D) interest rate will change; the quantity of money demanded is greater than the quantity of money supplied E) supply of money curve will shift; the quantity of money demanded is greater than the quantity of money supplied
The equilibrium level of regulation is where the marginal political benefits to the special interests are equal to the marginal political costs of the foregone regulation
a. True b. False
To say that the housing market is in equilibrium means that
a. there are no vacant houses b. the number of houses that are being constructed is equal to the housing stock c. the number of houses that are currently empty is equal to the number of households currently looking to buy a house d. the quantity demanded of houses is equal to the number of houses currently under construction e. the number of houses that people want to own is equal to the housing stock
Externalities can only involve the imposition of harm on a party not directly involved in an economic transaction.
Answer the following statement true (T) or false (F)