During the 1980s both the relative price and the purchases of BMWs increased dramatically. In the economic way of thinking,
A) the supply curve of BMWs shifted to the right.
B) the demand curve for BMWs shifted to the right.
C) the supply curve of BMWs shifted to the left.
D) the demand curve for BMWs shifted to the left.
B
Economics
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The opportunity cost of holding money instead of an interest earning asset is the
A) inflation rate minus the real interest rate. B) inflation rate. C) real interest rate. D) nominal interest rate. E) inflation rate minus the nominal interest rate.
Economics
In a small European country, it is estimated that a $10,000 increase in capital per hour worked will increase real GDP per hour worked by $300. Based on this information, what is the slope of the per-worker production function in this range?
A) 0.03 B) 3.3 C) 33.3 D) 333
Economics