In the above table, the government sector balance runs a ________ and net exports runs a ________
A) surplus of $100 billion; deficit of $200 billion
B) deficit of $100 billion; surplus of $200 billion
C) surplus of $100 billion; surplus of $200 billion
D) deficit of $100 billion; deficit of $200 billion
A
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AK growth models argue that which type or types of capital may not be subject to diminishing returns?
A) only physical capital B) physical capital and human capital C) human capital and knowledge D) knowledge and physical capital
Under which of the following situations would a seller prefer to incur the cost of improving the product quality?
a. If the increase in buyer's valuation for the improved product is higher than the cost of improving it. b. If the increase in the seller's opportunity cost of improving the product is higher than the price of the product. c. If the product improvement lowers the producer surplus. d. If the product improvement allows the seller to a break even.