Initially, the economy is at point G in Figure 10-4 above. A change in per capita savings ________ will after complete adjustment ________
A) point X to point E; lower the growth rate of output per capita
B) point X to point E; raise the growth rate of output per capita
C) point E to point X; raise output and saving but not the growth rate of output per capita
D) point E to point X; raise output and saving and the growth rate of output per capita
B
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In which of the following market types do all firms sell products so identical that buyers do not care from which firm they buy?
A) perfect competition B) monopolistic competition C) oligopoly D) monopoly E) perfect competition and monopolistic competition
From the table above, which gives data about the U.S. labor market in 1933, the labor force is
A) 48 million. B) 60 million. C) 65 million. D) 100 million. E) 12 million.
Which of the following statements is correct?
A. Low prices may not always be in the public interest. B. If prices on scarce resources are set “too low,” consumers will receive the “wrong” signals and be encouraged to consume more, thus squandering resources. C. Raising prices on scarce resources is generally politically unpopular. D. All of the responses are correct.
A country’s GDP per capita is calculated by dividing the GDP by _______.
a. purchasing power parity (PPP) b. exchange rate c. GDP over time d. population