Over half of the increase in labor productivity in India since 1993 has been due to
A) the growth rate of the capital stock.
B) total factor productivity growth.
C) a decrease in the population.
D) successful infrastructure investment.
B
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In a private closed economy, national income is $4.5 trillion and savings equals $6.4 billion. Based on this data, the marginal propensity to consume
A. cannot be calculated from the data given. B. decreases as income increases. C. is less than the average propensity to consume. D. is greater than the marginal propensity to save.
Reserves are defined as
a. the total cash in bank vaults b. money deposited in Federal Reserve accounts c. the sum of vault cash and deposits at Federal Reserve banks d. the total amount of money a bank must hold e. ten percent of demand deposit liabilities
When countries have different comparative advantages, the total gains from trade for all countries are larger than losses from trade.
a. true b. false
Aimee sells hand-embroidered dog apparel over the Internet. Her annual revenue is $128,000 per year, the explicit costs of her business are $42,000, and the opportunity costs of her business are $30,000. What is her accounting profit?
A) $12,000 B) $56,000 C) $86,000 D) $98,000