A nation can produce two products: steel and wheat. The table below is the nation's production possibilities schedule:Production Possibilities ScheduleProductABCDEFSteel012345Wheat100907555300If the nation uses all of its resources to produce only wheat, then its production combination will be
A. A.
B. B.
C. F.
D. E.
Answer: A
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Name two policies that a Keynesian economist would advocate to influence the level of GDP in the short run
What will be an ideal response?
Industrial unions in the United States formed a national organization known as
a. the National Union b. the Knights of Labor c. the American Federation of Labor (AFL) d. the Congress of Industrial Organizations (CIO) e. the AFL-CIO
Why is the principal-agent problem less likely when getting a haircut than when getting a car repaired?
a. Haircuts are less expensive than car repairs. b. There are no hidden actions when getting your hair cut. c. There are no hidden actions when getting your car repaired. d. Auto mechanics are less honest than hair stylists. e. There is no principal-agent relationship in car repair.
Crazy Cryptography is a software corporation that has 1,000 shares of stock in existence. The corporation has just surprised the market by announcing a new software package that will increase the company's after-tax profit by $500,000 each year, forever. If the interest rate is 8 percent (0.08) per year, by how much will the value of a single share of stock increase?
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