A professor posts his course syllabi and past exams on the Internet. From the economic point of view, the professor's behavior
A) demonstrates the arrogance of the professor.
B) better informs prospective students.
C) is a costless use of scarce resources, because it avoids paper, ink, and mimeos.
D) is irrational.
B
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In a small Asian country, it is estimated that a $10,000 increase in capital per hour worked will increase real GDP per hour worked by $600. Based on this information, what is the slope of the per-worker production function in this range?
A) 0.06 B) 6.6 C) 66.6 D) 666
Within the framework of the aggregate expenditures model, what will happen if an economy is operating at a real GDP greater than full-employment real GDP?
a. An inflationary gap exists. b. Real GDP will fall. c. The inventories of firms will rise. d. Firms will cut back on their current rate of output.