Answered: i) National Saving in the economy could…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Macro Economics MCQS select right option urgent need i) National Saving in the economy could be identified as C+I+G I+G. Y – I–G Y –C–G ii) Barter cannot function well because transaction costs are minimal because goods are not always divisible. because goods are always standardized because people with similar interest are easy to interact iii) Compared to long-term unemployment, short-term unemployment is more likely to be: frictional unemployment. structural unemployment. a result of minimum-wage laws. a result of union activity. iv) The production function Y = F(K,L) states that The output increases when capital and labour decreases The output depends on capital and labour The output increases when capital increases and labour decreases The output increases when an increase in the capital causes labour to decreases

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