In the following graph, the price of capital is $100 per unit. Which of the following combinations of capital and labor lies on the expansion path?
A. 35K, 140L
B. 20K, 60L
C. 50K, 200L
D. all of the above
E. none of the above
Answer: B
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A) an increase in the population B) a change in the price of tangerines C) a change in the price of oranges D) a decrease in the taste and preferences for oranges
If the government were to run a budget deficit and wanted to finance it by printing money, would it have the central bank conduct open market purchases or open market sales?
If a country experienced deflation, then
a. the nominal interest rate would be greater than the real interest rate. b. the real interest rate would be greater than the nominal interest rate. c. the real interest rate would equal the nominal interest rate. d. nominal GDP would be smaller than the money supply.
In the production of cell phones, Apple and Samsung are ________, so there is ________ on economic profits to go to zero.
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