A nation can produce two products: tanks and autos. The table below is the nation's production possibilities:
Refer to the above table. The marginal opportunity cost of the fourth unit of tanks is:
A. 4 units of tanks
B. 300 units of autos
C. 350 units of autos
D. 1000 units of autos
Answer: B
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If the consumption function is C = 90 + 0.75y, then the level of autonomous consumption is
A) 0.25. B) 0.75. C) 67.5. D) 90.
If the dotted horizontal line represents the effect of a usury law then there is a ____ of loanable funds of _____ billion dollars.
A. surplus; 275
B. shortage; 275
C. surplus; 400
D. shortage; 400
Deflation is bad because:
A. wages decline. B. prices decline. C. monetary policy becomes impotent. D. fiscal policy becomes impotent. E. deflation is not bad.
An insurance premium is a
A) payment made by an insurance company to a policyholder after the occurrence of an insurable event. B) payment made by an insurance company to a policyholder following a period in which the policyholder has filed no claims against the company. C) fee paid by policyholders to insurance companies as payment for coverage. D) fee paid by policyholders to insurance companies in exchange for special considerations, such as a particularly large policy.