In Keynes's liquidity preference framework, individuals are assumed to hold their wealth in two forms
A) real assets and financial assets.
B) stocks and bonds.
C) money and bonds.
D) money and gold.
C
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Economists use the notation Q = f(L,K) to describe:
a) the financial relationship between the inputs that a firm uses and the outputs that it produces. b) the level of output (Q) required to fully employ labour (L) and capital (K). c) the flow of labour (L) and capital (K) services that are available when output is (Q). d) the arithmetic relationship between the outputs that a firm uses and the inputs that it produces. e) the technological relationship between the inputs that a firm uses and the outputs that it produces.
Measured in 2014 dollars, real GDP per person in the United States in 2014 was about 10 times that in
a. China. b. India. c. Indonesia. d. Pakistan.