When the value of a human life is calculated according to the economic contribution a person makes to society (as reflected in her income-earning potential), the troubling implication is that
a. it is possible for a retired or disabled person to have no value to society.
b. economists are more valuable than entrepreneurs.
c. retired people who volunteer in their communities are more valuable than physicians.
d. all workers have equal value.
a
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Which of the following will cause a reduction in the amount of money individuals wish to hold?
A) an increase in income B) an increase in the interest rate C) an increase in the price level D) all of the above
Jessica paid $6,200 for a bond with a face value of $6,000. She will be paid $350 annually as long as she holds on to the bond, until the bond's maturity date. The yield on the bond is
A. 5.6 percent. B. 5.8 percent. C. 15.6 percent. D. 2.0 percent.
Economists use the phrase "business cycle" when referring to fluctuations in:
A. real GDP. B. the chain price index. C. the consumer price index. D. the general level of prices.
A government report that makes working in a particular industry less attractive to workers will most likely ________ the number of workers hired in that industry, and ________ the wage paid to those workers.
A. increase; increase B. increase; decrease C. decrease; increase D. decrease; decrease