The production function graphs the relationship between
A) nominal GDP and real GDP.
B) real GDP and the quantity of labor employed.
C) real GDP and capital.
D) nominal GDP and the quantity of labor employed.
E) real GDP and the supply of labor.
B
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A commercial bank's reserves are
A) bonds issued by the U.S. government that are very safe. B) the provision of funds to businesses and individuals. C) currency in its vault plus the balance on its reserve account at a Federal Reserve Bank. D) savings and time deposits. E) its loans.
Financial capital is highly volatile, and technological advances have reinforced this volatility
Indicate whether the statement is true or false
In the Malthusian model, improvements in health care lead to
A) higher population and higher per-capita production. B) higher population and lower per-capita production. C) lower population and higher per-capita production. D) lower population and lower per-capita production.
Suppose Hannah's Cookies sells cookies in a perfectly competitive market. It sells 200 cookies per week at a price of $2 per cookie. If it decides to increase the price to $2.50 per cookie, then its sales _____
a. will decrease by 150 cookies per week b. will decrease by more than 200 cookies per week c. will drop down to zero d. will decrease by 100 cookies per week