The price of old (or existing) bonds and interest rates have an inverse relationship
Indicate whether the statement is true or false
True
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Basically the United States' high rate of population growth since the time of George Washington's presidency
A. has been a drag on the United States' rate of economic growth. B. pushed up the United States' rate of unemployment. C. created a growing problem of not enough food to feed everyone. D. provided a market for the United States' farmers and manufacturers.
Ashton has the utility of wealth curve shown in the above figure. He owns a sports car worth $30,000, and that is his only wealth. Ashton is a careless driver and there is a 30 percent chance that he will have an accident within a year
If he does have an accident, his car is worthless. What is Ashton's expected utility? A) 100 B) 30 C) 70 D) zero
The basic organizing framework for both microeconomic and macroeconomic models is
a. purely competitive markets. b. government planning of the economy. c. demand and supply. d. democratic socialism. e. all of the above.
Suppose the production of cotton causes substantial environmental damage because the pesticides used by cotton farmers often make their way into nearby rivers and streams, and are very harmful to fish and other wildlife. Economists would consider the environmental damage that results from the production of cotton to be a(n):
A. relevant cost of production only if the environmental damage negatively affects other firms. B. relevant cost of production only if cotton farmers are charged a fine for the damage done. C. relevant cost of production. D. implicit cost of production that cotton farmers will take into account when determining their profit-maximizing level of output.