The economic contribution of a sports franchise to a community is roughly on the same order of magnitude as a
A. new McDonald's on a city street.
B. a new automobile factory.
C. a hotdog stand.
D. a new Walmart Supercenter.
Answer: D
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In the life-cycle hypothesis, if a person enters working life with an inherited stock of assets, this
A) raises his consumption during the working years. B) raises his consumption during the retirement years. C) raises his consumption in every year. D) lowers his consumption during the retirement years. E) lowers his consumption during the working years.
In a system of flexible exchange rates, lower inflation abroad would induce
a. a rise in the U.S. exchange rate. b. a fall in the U.S. rate of exchange. c. a balance of payments deficit for the United States. d. no change in U.S. exchange rates.
A surplus can exist in the market only if there is:
a. a non binding price floor. b. a binding price floor. c. a binding price ceiling. d. a non binding price ceiling.
Average physical product measures the output per unit of input
a. True b. False Indicate whether the statement is true or false