Q: If the price of pasta increases and a consumer buys more pasta
If the price of pasta increases and a consumer buys more pasta, we can infer that a. pasta is a normal good, and the income effect is greater than the substitution effect. b. pasta is a normal good, a...
See AnswerQ: In what way is a college degree a form of capital?
In what way is a college degree a form of capital?
See AnswerQ: Over the past century, real GDP per person in the United
Over the past century, real GDP per person in the United States has grown about ________ percent per year, which means it doubles about every ________ years. a. 2, 14 b. 2, 35 c. 5, 14 d. 5, 35
See AnswerQ: The world’s rich countries, such as Japan and Germany, have
The world’s rich countries, such as Japan and Germany, have income per person that is about ________ times the income per person in the world’s poor countries, such as Pakistan and India. a. 3 b. 6 c....
See AnswerQ: Most economists are ________ that natural resources will eventually limit economic growth
Most economists are ________ that natural resources will eventually limit economic growth. As evidence, they note that the prices of most natural resources, adjusted for overall inflation, have tended...
See AnswerQ: Because capital is subject to diminishing returns, higher saving and investment
Because capital is subject to diminishing returns, higher saving and investment does not lead to higher a. income in the long run. b. income in the short run. c. growth in the long run. d. growth in t...
See AnswerQ: Use the theory of liquidity preference to explain how a decrease in
Use the theory of liquidity preference to explain how a decrease in the money supply affects the aggregate demand curve.
See AnswerQ: When the Japanese car maker Toyota expands one of its car factories
When the Japanese car maker Toyota expands one of its car factories in the United States, what is the likely impact of this event on the GDP and GNP of the United States? a. GDP rises and GNP falls. b...
See AnswerQ: Thomas Robert Malthus believed that population growth would a. put
Thomas Robert Malthus believed that population growth would a. put stress on the economy’s ability to produce food, dooming humans to remain in poverty. b. spread the capital stock too thinly across t...
See AnswerQ: Describe a change in the tax code that might increase private saving
Describe a change in the tax code that might increase private saving. If this policy were implemented, how would it affect the market for loanable funds?
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