Rapid economic growth is important because it
a. makes some people richer
b. eliminates scarcity
c. makes the unemployment rate zero
d. allows the average person to consume more goods and services
e. reduces interest rates
D
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Empirical evidence shows that the impact of government budget deficits and surpluses on the equilibrium interest rate is quite large
Indicate whether the statement is true or false
Refer to Table 5.4. If outcomes 1 and 2 are equally likely at Job A, and if at Job B the $20 outcome occurs with probability .1, and the $50 outcome occurs with probability .9, then
A) Job A is safer because the difference in the probabilities is lower. B) Job A is riskier only because the expected value is lower. C) Job A is riskier because the standard deviation is higher. D) Job B is riskier because the difference in the probabilities is higher. E) There is no definite way given this information to tell how risky the two jobs are.
Suppose Chip's Chips produces bags of potato chips that sell for $3 a bag. If they sold 12,000 bags and incurred total costs of $30,000, what was the company's profit?
A. $6,000 B. $42,000 C. $36,000 D. $18,000
Plumbers and carpenters are examples of industrial unions
a. True b. False