In graphing the Solow growth model, the per-person production function is used to derive the ________ per-person line, with the vertical distance between them being ________ per person
A) national saving, investment
B) national saving, consumption
C) steady-state investment, capital
D) steady-state investment, depreciation
E) steady-state investment, national saving
B
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Sugar is an input used to produce cereal. Suppose that the price of sugar rises. As a result
A) the supply curve for sugar will shift to the right. B) the supply curve for sugar will shift to the left. C) the supply curve for cereal will shift to the right. D) the supply curve for cereal will shift to the left.
Which of the following methods could be used to calculate GDP?
a. the sum of all spending on final goods and services b. the sum of all factor payments plus depreciation and indirect business taxes c. the sum of all values added at each stage of production d. All of the above could be used.