All of the following unambiguously contribute to economic growth EXCEPT
A) increase in human capital.
B) increase in technology.
C) increase in labor productivity.
D) increase in government spending.
D
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In the long run,
A. all of the firm’s input quantities are variable. B. the firm can vary the quantities of some but not all inputs. C. managers become less efficient. D. the total cost of producing any given level of output is greater than or equal to the short-run total cost of producing that level of output.
Consider the game between the teens from the previous question. Instead of being a simultaneous game, suppose it is sequential, with teen A moving first. What is the subgame-perfect equilibrium of this new game?
a. Both Declare. b. Both Ignore/Rebuff. c. It is a mixed strategy equilibrium. d. Teen A Declares and Teen B follows A's action.
A market system tends to create inequality
a. True b. False Indicate whether the statement is true or false
If there is a political business cycle and the Federal Reserve supports the incumbent, then we should expect that prior to elections the Fed would
a. raise interest rates to shift aggregate demand left. b. raise interest rates to shift aggregate demand right. c. reduce interest rates to shift aggregate demand left. d. reduce interest rates to shift aggregate demand right.