Refer to Figure 8A.2. Compared to curve s1Y, curve s2Y represents
A) a decrease in depreciation. B) a decrease in original capital stock.
C) a higher saving rate. D) a decrease in capital deepening.
C
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When a tax is placed on the sellers of a product, the
a. size of the market decreases. b. effective price received by sellers decreases, and the price paid by buyers increases. c. supply of the product decreases. d. All of the above are correct.
A perfectly elastic supply curve is
A) an upward sloping straight line that intersects the origin. B) horizontal. C) vertical. D) downward sloping.
Which of the following financial institutions was not bailed out by the federal government during the financial crisis of 2008-2009?
A. A.I.G. B. Lehman Brothers C. J.P. Morgan Chase D. Goldman Sachs
A perfect competitor would
A. never charge above market price but might charge below market price. B. never charge below market price but might charge above market price. C. always charge market price.