Homework Answers
Real GDP indicates the actual level of production within the economy.
An increase in real GDP indicates the actual economic growth.
Most economies around the world has experienced an increase in real GDP over the years and per capita GDP has also increased many fold. This is eveident in rising standard of living in many countries around the world.
Thus,
The correct answer is the option (1) [Over time, the general trend for most economies is one of rising real GDP].
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Which of the following statements is true? Over time, the general trend for most economies is...
Over time both real GDP and the price level have trended upward. Which of these trends would the classical dichotomy say could be explained by an upward trend in the money supply? Question 39 options:...
Over time both real GDP and the price level have trended upward. Which of these trends would the classical dichotomy say could be explained by an upward trend in the money supply? Question 39 options: a) both the upward trend in real GDP and the upward trend in the price level b) the upward trend in real GDP but not the upward trend in the price level c) the upward trend in the price level but not the upward trend...
Over time both real GDP and the price level have trended upward. Which of these trends...
Over time both real GDP and the price level have trended upward. Which of these trends would the classical dichotomy say could be explained by an upward trend in the money supply? Question 39 options: a) both the upward trend in real GDP and the upward trend in the price level b) the upward trend in real GDP but not the upward trend in the price level c) the upward trend in the price level but not the upward trend...
D 22. Which of the following is true for a firm that enjoys economies of scale?...
D 22. Which of the following is true for a firm that enjoys economies of scale? Marginal cost is increasing as output increases. Average total cost is falling as output increases. Marginal cost is constant as output increases. Marginal revenue is falling as output increases.
explanations required. Thanks! QUESTION 3 Which of the following statements is not true? Potential GDP could...
explanations required. Thanks!
QUESTION 3 Which of the following statements is not true? Potential GDP could increase or decrease over a period of time. Although a country can exceed potential GDP, it is not sustainable. Theories of economic growth are focussed on the rate of growth of potential GDP over time. Real GDP will fluctuate around potential GDP due to the occurrence of business cycles. Potential GDP represents the maximum level of GDP attainable by a country.
Which of the following statements is not true? -An increase in real domestic income while the...
Which of the following statements is not true? -An increase in real domestic income while the price level and the real money supply are constant. -An increase in the price4 level while real domestic income and the nominal money supply are rising -A decrease in the real money supply while the price3 level and real domestic income are constant -An increase in the price level while real domestic income and the nominal money supply are constant Which of the following...
Which of the following statements based on the Real GDP growth chart in the video is correct? O A. Despite the drop in...
Which of the following statements based on the Real GDP growth chart in the video is correct? O A. Despite the drop in output in advanced economies, the level of output did not fall in emerging market economies O B. The level of output (real GDP) first decreased in emerging market economies. O C. The level of output (real GDP) first decreased in advanced economies O D. The crisis causes the level of output (real GDP) to fall at the...
Which statements are true regarding economies of scale.
Which statements are true regarding economies of scale.A. To maximize profits, a monopoly that occurs because of economies of scale should produce an output so that marginal revenue equals marginal costs. B. Economies of scale typically cause an industry to be perfectly competitive. C. When a firm has a natural monopoly it has that type of monopoly because of economies of scale. D. A firm that has economies of scale sees its average total costs decrease when production increases.
Consider two economies, one developing and one developed. Both economies have access to the production function...
Consider two economies, one developing and one developed. Both economies have access to the production function shown below, but the developed economy utilizes four units of capital, while the developing country utilizes one unit of capital. Part 1 According to the Solow growth model, you would expect the to be closer to its steady state. Part 2 According to the Solow model, investment in the would yield relatively greater returns.Part 3 The Solow model predicts that, over time, real GDP in developing economies could potentially...
Which one of the following statements is true about the trend in aging in the US?...
Which one of the following statements is true about the trend in aging in the US? a. The population is getting younger and disability among young adults is increasing b. The population is getting younger and disability among young adults is decreasing. c. The population is getting older and disability among older adults is increasing. d. The population is getting older and disability among older adults is decreasing.
Concept Check 3.3.1.2 Question Help Which of the following statements regarding marginal analysis is true? O...
Concept Check 3.3.1.2 Question Help Which of the following statements regarding marginal analysis is true? O A. If total cost is rising, marginal cost must be rising. O B. If total cost is rising, marginal cost could be falling. O C. If total cost is falling, marginal cost must be positive. O D. If total cost is falling, marginal cost could be zero. Click to select your answer and then click Check Answer. All parts showing Clear All Check Answer
D 22. Which of the following is true for a firm that enjoys economies of scale? Marginal cost is increasing as output increases. Average total cost is falling as output increases. Marginal cost is constant as output increases. Marginal revenue is falling as output increases.
explanations required. Thanks!
QUESTION 3 Which of the following statements is not true? Potential GDP could increase or decrease over a period of time. Although a country can exceed potential GDP, it is not sustainable. Theories of economic growth are focussed on the rate of growth of potential GDP over time. Real GDP will fluctuate around potential GDP due to the occurrence of business cycles. Potential GDP represents the maximum level of GDP attainable by a country.
Which of the following statements based on the Real GDP growth chart in the video is correct? O A. Despite the drop in output in advanced economies, the level of output did not fall in emerging market economies O B. The level of output (real GDP) first decreased in emerging market economies. O C. The level of output (real GDP) first decreased in advanced economies O D. The crisis causes the level of output (real GDP) to fall at the...
Consider two economies, one developing and one developed. Both economies have access to the production function shown below, but the developed economy utilizes four units of capital, while the developing country utilizes one unit of capital. Part 1 According to the Solow growth model, you would expect the to be closer to its steady state. Part 2 According to the Solow model, investment in the would yield relatively greater returns.Part 3 The Solow model predicts that, over time, real GDP in developing economies could potentially...
Concept Check 3.3.1.2 Question Help Which of the following statements regarding marginal analysis is true? O A. If total cost is rising, marginal cost must be rising. O B. If total cost is rising, marginal cost could be falling. O C. If total cost is falling, marginal cost must be positive. O D. If total cost is falling, marginal cost could be zero. Click to select your answer and then click Check Answer. All parts showing Clear All Check Answer
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