If two countries are economically identical except that citizens in one country have more leisure time, then the level of GDP:
A. will be the same in both countries.
B. will be higher in the country with more leisure time.
C. will be higher in the country with less leisure time.
D. will be greater than the level of economic well being in each country.
Answer: A
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In the above table, the inflation rate between 2013 and 2014 is approximately
A) 9 percent. B) 10 percent. C) 100 percent. D) 110 percent.
Direct finance refers to the flow of funds from savers to borrowers through financial markets
Indicate whether the statement is true or false
If a country's political leaders wanted to promote economic growth, which of the following policy alternatives would be most effective?
a. imposition of price controls on agricultural products in an effort to keep food cheap. b. imposition of high marginal tax rates designed to reduce income inequality. c. imposition of tariffs and other trade restraints limiting international trade. d. monetary policy consistent with long-run price stability
Tim decides to spend four hours playing video games rather than attending his classes. His opportunity cost of playing games is
a. the value of the knowledge he would have received had he attended his classes. b. the $50 he could have earned if he had worked at his job for those four hours. c. the value of his time playing video games minus the value of attending classes. d. nothing, since he valued playing video games more than attending classes.