Which of the following is not an example of capital?
a. An assembly line robot
b. A computer network
c. A teller at a bank
d. Delivery truck
c
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In an open economy, a decrease in the government's budget deficit will ________ the domestic real interest rate and ________ the level of capital investment in the country, holding other factors constant.
A. increase; increase B. decrease; increase C. increase; decrease D. decrease; decrease
If a significant portion of firms in the economy does not immediately adjust product prices, then the short-run aggregate supply curve
A) slopes downward. B) slopes upward. C) is horizontal. D) is vertical.
A world price of a good:
A) is the lowest price for which the good is available in any country in the world. B) is the price prevailing in the country with the highest production of the good. C) is equal to the lowest opportunity cost of producing the good in any country in the world. D) is the prevailing price of the good on the global market.
If businesses expect the economic activity to expand
A) the planned investment function relating investment to the interest rate will shift to the left. B) the planned investment function relating investment to the interest rate will remain unchanged, but will move downward along the curve. C) the planned investment function relating investment to the interest rate will steepen. D) the planned investment function relating investment to the interest rate will shift to the right.