In a business cycle expansion, the ________ of bonds increases and the ________ curve shifts to the ________ as business investments are expected to be more profitable
A) supply; supply; right
B) supply; supply; left
C) demand; demand; right
D) demand; demand; left
A
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In the formula for calculating the growth rate of multifactor productivity, the growth rate of labor productivity is represented by
A) y - n. B) b(k - n). C) bk/n. D) b - n.
Q: How many economists does it take to screw in a light bulb? A: None. If the light bulb really needed changing, market forces would have already caused it to happen. This joke represents the view of
A) classical economists. B) Keynesian economists. C) economists who conclude that money illusion is widespread. D) economists who conclude that wages and prices are inflexible.
The firm in a perfectly competitive industry
a. is a price-taker b. is a price-maker c. attempts to differentiate his/her product through advertising d. will earn an economic profit in the long run e. can charge any price it wishes
Matthew bakes apple pies that he sells at the local farmer's market. If the price of apples increases, the
a. supply curve for Matthew's pies will increase. b. supply curve for Matthew's pies will decrease. c. demand curve for Matthew's pies will increase. d. demand curve for Matthew's pies will decrease.