One of the main determinants of real GDP per person is the growth of capital per person. Which of the following variables does NOT determine the growth of capital per person in the long run?

List three ways the measured unemployment tends to understate the unemployment problem

What will be an ideal response?

Assume a consumer is currently purchasing a combination of goods, X and Y, that maximizes her utility given her budget constraint, i.e., MRSX,Y = PX/PY. Now assume that there is a decrease in the price of Y

In this case, to once again maximize her utility, the consumer will want to adjust her purchases of X and Y such that: A) the marginal rate of substitution of X for Y, i.e., MRSX,Y, decreases. B) the marginal rate of substitution of X for Y, i.e., MRSX,Y, stays the same. C) the marginal rate of substitution of X for Y, i.e., MRSX,Y, increases. D) none of the above. The consumer will continue to maximize her utility after the price change by continuing to consume the same combination of X and Y.