Capital goods are
A. long-lived goods used for producing other goods and services.
B. excluded from GDP.
C. the end products of production.
D. publicly provided.
Answer: A
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The observation that the money supply is procyclical and leading the level of aggregate economic theory is most closely associated with
A) Lucas and Friedman. B) Friedman and Schwartz. C) Kydland and Prescott. D) David Runkle.
Union membership rates in the U.S. are
a. highest among government employees b. highest among industrial sector employees c. highest among service sector employees d. increasing at a faster rate than the labor force e. highest among women
When the absolute percentage change in quantity demanded is just equal to the percentage change in price, demand is
A) elastic. B) perfectly inelastic. C) unit-elastic. D) relatively inelastic.
One of the distinguishing characteristics of capital mobility today is that
A) there are far more kinds of financial instruments than there were 100 years ago. B) nations are no longer dependent on their own national savings for their investment funds. C) the bulk of foreign capital flows are tied to labor flows. D) currency markets play a less significant role than they did in the past.