Which of the following contributed to the downfall of the Soviet Union in 1991?
A) public dissatisfaction with low living standards and political repression
B) producing higher-quality goods than were desired by consumers
C) the rapidly increasing standard of living
D) the lack of a strong dictator who could coordinate economic activities
Answer: A
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The above table shows production points on Sweet-Tooth Land's production possibilities frontier. What is the opportunity cost of one chocolate bar if Sweet-tooth Land moves from point C to point D?
A) 30 cans of cola per chocolate bar B) 10 cans of cola per chocolate bar C) 3 cans of cola per chocolate bar D) 1/3 can of cola per chocolate bar
Paula is considering going to law school. If she does, she will spend $60,000 on tuition and books to get a college education (during the first time period), $120,000 on tuition and books to get a law degree (during the second time period), and her law degree will earn her $620,000 during the remainder of her work-life (during the third time period). Paula's time preference for money is associated with a per-period interest rate of 20 percent. Approximately what is Paula's present value of obtaining a law degree?
A. $621,900 B. $100,100 C. $270,500 D. $440,000 E. $210,400
Answer the next question based on the following consolidated balance sheet for the commercial banking system. Assume the required reserve ratio is 30 percent. All figures are in millions of dollars.AssetsLiabilities & Net WorthReserves$200 Checkable Deposits$600Loans100 Stock Shares700Securities500 Property500?Refer to the above data. The commercial banking system can expand the supply of money by a maximum of:
A. $36.5 million. B. $51.9 million. C. $66.67 million. D. $23.5 million.
The USDA threshold income level was originally based on the cost of
A) housing. B) transportation. C) basic clothing. D) a nutritionally adequate food plan.