An increase in the saving rate in a steady-state economy would cause
A) a rightward movement along the saving-per-worker curve and an increase in the capital—labor ratio.
B) an upward shift in the saving-per-worker curve and an increase in the capital—labor ratio.
C) a downward shift in the saving-per-worker curve and a decrease in the capital—labor ratio.
D) a leftward movement along the saving-per-worker curve and a decrease in the capital—labor ratio.
B
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Suppose the Busy Bee Café is the monopoly producer of hamburgers in Hugo, Oklahoma. The above figure represents the demand, marginal revenue, and marginal cost curves for this establishment
What price will the Busy Bee charge to maximize its profit? A) $5.00 for a hamburger B) $3.00 for a hamburger C) $2.00 for a hamburger D) $1.00 for a hamburger E) $4.00 for a hamburger
On January 25, 2009, one U.S. dollar traded on the foreign exchange market for about 0.75 euros. Therefore, one euro would have purchased about ________ U.S. dollars
A) 0.75 B) 1.00 C) 1.33 D) 1.75
In an attempt to boost enrollment, in January 1996, a private college in Iowa offered free tuition for seniors graduating from high school in the county where it is located. For students who accept the offer, how does this offer affect the opportunity cost of attending college?
a. The opportunity cost is not changed, since lost earnings are still a factor. Incorrect. Please review Top Ten Concept # 1. b. The opportunity cost is now zero for the typical student. c. The opportunity cost is very low, because the only cost is for books and school supplies. d. The opportunity cost is not changed, since tuition is not a factor in computing opportunity cost. e. The opportunity cost is lower than if tuition were charged, but there is still a cost.
What will happen to the U.S. dollar price of a euro and the quantity of euros exchanged when the demand for the euro decreases, but the supply does not change? Has the U.S. dollar appreciated or depreciated?
Please provide the best answer for the statement.