A steady-state equilibrium refers to:
A) an equilibrium in which the stock of physical capital remains constant over time.
B) an equilibrium in which the inequality remains constant over time.
C) an equilibrium in which the GDP per capita remains constant over time.
D) an equilibrium in which the poverty rate remains constant over time.
A
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Assume that the central bank increases the reserve requirement. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the real risk-free interest rate and net nonreserve-related international borrowing/lending in the context of the Three-Sector-Model?
a. The real risk-free interest rate rises, and net nonreserve-related international borrowing/lending becomes more positive (or less negative). b. The real risk-free interest rate falls, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). c. The real risk-free interest rate rises, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). d. The real risk-free interest rate and net nonreserve-related international borrowing/lending remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Below, The graph on the left shows the short-run marginal cost curve for a typical firm selling in a perfectly competitive industry. The graph on the right shows current industry demand and supply.
What is the marginal revenue for the FIRM from selling the 250th unit of output?
A. $8 B. $4 C. $10 D. $6 E. zero