On the Solow Diagram, an increase in the saving rate is shown by ________
A) an upward shift of the depreciation line
B) an upward shift of the investment function
C) an upward shift of the per-worker production function
D) a downward shift of the investment function
B
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Inflation makes it difficult to distinguish relative price changes from changes in the general level of prices. Consequently, inflation ________ the efficiency of the market system.
A. decreases B. does not change C. increases D. may either increase or decrease
The ________ plots the relationship between prices and the quantity producers are willing to sell
A) isoquant B) indifference curve C) demand curve D) supply curve
With regard to the subject matter of American economic history, Hughes and Cain (2011) suggest that
(a) the presence of the highest living standards known in world history supports the claim that American history is largely a "success story." (b) the American economy is an economy with only successes but no failures. (c) U.S. history provides a fragmented record of problem-solving and problem-producing solutions to the challenges of economic development. (d) there is no link between today's economy and the economy of yesteryear.
The winners curse is more often associated with;
a. oral auctions b. second-price auctions c. first-price sealed bid auctions d. common value auctions