In the open-economy macroeconomic model, at the equilibrium real interest rate, the amount that people (including government) want to save exactly balances desired domestic investment
a. True
b. False
Indicate whether the statement is true or false
False
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In case of the textile industries of England in 1811, the invention of new technology that allowed workers to complete tasks in minutes that had previously taken hours, resulted in a(n):
A) increase in the demand for labor in the textile industries. B) increase in the quantity demanded of labor in the textile industries. C) decrease in the demand for labor in the textile industries. D) decrease in the quantity demanded of labor in the textile industries.
Which of the following is an example of an implicit cost a firm might incur?
A) the opportunity cost to investors of the funds invested in the firm B) the wages paid to employees C) utility payments D) the payment for medical insurance coverage
If an individual wins a multimillion dollar lottery and chooses to receive annual payments equaling the total prize, this person has a
A) relatively low discount rate. B) relatively high discount rate. C) discount rate of zero. D) It is impossible to tell.
Beach resorts raise their prices during the summer months and yet more people book rooms at those times. Is this a violation of the law of demand?