By dividing the value of total domestic output (real Gross Domestic Product (GDP)) by the number of workers, economists derive
A) the net domestic product.
B) labor productivity.
C) the size of the labor force.
D) the rate of capital accumulation.
B
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When housing prices fell as they did beginning in 2006 following the housing market bubble, most banks and other lenders ________ the requirement for borrowers, making it ________ for potential home buyers to obtain mortgages
A) tightened; harder B) eased; easier C) eased; harder D) tightened; easier
In the Solow growth model, if the level of investment is greater than depreciation at the initial capital-labor ratio , then ?k is ________ and the capital-labor ratio ________ toward the steady-state capital-labor ratio
A) greater than zero; increases B) greater than zero; decreases C) less than zero; increases D) less than zero; decreases