Data from the Bureau of Labor Statistics show that consumer spending on transportation is only slightly higher than consumer spending on food and beverages
a. True
b. False
Indicate whether the statement is true or false
True
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Voluntary exchange
A. is usually beneficial to one party, but not the other. B. is always beneficial to both parties. C. is occasionally beneficial to both parties. D. occurs only between nations, not between individuals.
Suppose the average productivity of workers in Country A is equal to that of workers in Country B. If Country A has higher total efficiency units of labor than Country B, it implies that ________
A) Country B has a larger supply of workers B) Country A has a larger supply of workers C) Country B has a larger stock of capital D) Country A has a larger stock of capital
If the interest rate is 10 percent and a business pays $100,000 for a lease on a factory, the explicit costs are
A) $110,000. B) $10,000. C) $100,000. D) $90,000.
Macroeconomics simply focuses on the annual performance of a particular national economy and ignores its interactions with other national economies around the world
a. True b. False Indicate whether the statement is true or false