If changing the quantity produced from 10,000 to 10,001 causes total costs to increase by $15, the marginal cost at 10,000 must be $15
Indicate whether the statement is true or false
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The coupon equivalent yield of a one-year Treasury bill with a $1,000 face value and a current price of $970 is __________ percent
A) 3.1 B) 3.0 C) 9.7 D) None of the above.
Suppose the central bank increases the money supply in an economy unexpectedly during a year. If the current inflation rate in this country is 3.4 percent, then according to new classical economists, the expected inflation rate for the following year would be:
a. 3.4 percent. b. less than 3.4 percent. c. 2.4 percent, because people form their expectations adaptively. d. around 6.8 percent. e. greater than 3.4 percent.
If China has an absolute advantage over Canada in producing both rice and tires, then
a. China should produce both rice and tire and Canada should produce both rice and tires b. there are no benefits possible to China from specialization c. Canada should produce tires and China should produce rice d. China should produce tires and Canada should produce rice e. more information is needed to tell whether China or Canada should specialize
The MRP of capital is measured by the change in
a. total output/change in loanable funds b. marginal physical product/change in loanable funds c. total revenue/change in loanable funds d. loanable funds/change in total revenue e. total output/change in total capital