Assume that an economy experiences both positive population growth and technological progress. Once the economy has achieved balanced growth, we know that the output per effective worker ratio (Y/NA) is
A) growing at a rate of 0.
B) growing at a rate of gA + gN.
C) growing at a rate of gN.
D) growing at a rate of gA.
E) none of the above
A
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Use the figure below to answer the following question.
At equilibrium, consumer surplus is
A. 400. B. 200. C. 150. D. 300.
Newly-privatized firms in Eastern Europe require __________ investor monitoring, which suggests the relative desirability of a __________-oriented financial system
A) heavy; banking B) heavy; markets C) little or no; banking D) little or no; markets
Refer to the above figure. The figure gives the payoff matrix for two individuals who are being accused of robbing a bank together. Which of the following is the outcome of the dominant strategy without cooperation?
A) Both confess. B) Both don't confess. C) Bob confesses while Harry does not confess. D) Harry confesses while Bo does not confess.
Household spending on education is counted in which component or subcomponent of GDP?
a. consumption of durable goods
b. consumption of nondurable goods
c. consumption of services
d. investment