Economic growth is the result of all of the following EXCEPT
A) technological change.
B) capital accumulation.
C) opportunity cost.
D) investment in human capital.
C
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If the supply curve remains constant, an outward shift in the demand curve for a commodity causes the price of factors used in its production to decline
a. True b. False Indicate whether the statement is true or false
At a given nominal rate of interest, when spending is equal to output and there is uncovered interest parity, we have:
A) real exchange rate parity. B) equilibrium in the goods market and in the forex market. C) stable inflation and low unemployment. D) depreciation of the home currency.
Total cost divided by the quantity of output the firm chooses when it can choose a production facility of any size describes:
A. the short-run average cost of production. B. the long-run average cost of production. C. the short-run marginal cost of production. D. the long-run marginal cost of production.
Valuing the quantities of goods produced in consecutive years using prices in both years and then averaging the percentage changes in the value of output is part of the ________ method of calculating real GDP
A) base-year B) moving-base-year C) chain-weighted output index D) fixed quantities/variable prices