Which is a plausible cause of the movement in Figure 13.1 from point 1 to point 2?
A) a change in expectations that causes a decline in the real interest rate for investments
B) a decrease in expected inflation
C) the economy's self-correcting mechanism
D) the central bank achieves a negative value for the nominal interest rate
E) none of the above
Question 2
In an economy with production function Y = 1.5 , K = 343, and L = 512. If factor markets are in equilibrium, then the rental price of capital is (approximately) ________, and the real wage is (approximately) ________.
A) 0.5; 0.8
B) 7; 8
C) 0.9; 1.35
D) 1.4; 0.4
E) 0.6; 0.9
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