Economic rent refers to profit derived from owning real estate.
Answer the following statement true (T) or false (F)
False
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U.S. prices are considered stable only when the Consumer Price Index
a. falls. b. moves 10 percent or less in a year’s time. c. moves 2 percent or less in a year’s time. d. remains unchanged.
John and Mary work at a bakery. John can decorate either 10 ice-cream cakes or 4 wedding cakes; Mary can decorate either 8 ice-cream cakes or 2 wedding cakes. According to this scenario
A) the opportunity cost of decorating a wedding cake for Mary is 4 ice-cream cakes. B) the opportunity cost of decorating a wedding cake for Mary is 1/4 ice-cream cake. C) the opportunity cost of decorating a wedding cake for Mary is 2 1/2 ice-cream cakes. D) the opportunity cost of decorating a wedding cake for Mary is 2/5 ice-cream cake.
If capital and labor each grow 5% in a year, the elasticities of output with respect to capital and labor sum to one, and productivity grows 2% in the year, by how much does output grow during the year?
A. 2% B. 3% C. 7% D. 5%
If U.S. assets are seen as having greater risk relative to foreign assets in the market for foreign exchange, this should cause the:
A. dollar to appreciate. B. supply of dollars to decrease. C. supply of dollars to increase. D. demand for dollars to increase.