We interpret the term loanable funds to mean the flow of resources available to fund private investment
a. True
b. False
Indicate whether the statement is true or false
True
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Cassie's Quilts alters, reconstructs, and restores heirloom quilts. Cassie has just spent $800 purchasing, cleaning, and reconstructing an antique quilt which she expects to sell for $1,500 once she is finished
After having spent $800, Cassie discovers that she would need some special period fabric that would cost her $200 in material and time in order to complete the task. Alternatively, she can sell the quilt "as is" now for $900. What is her marginal benefit if she sells the quilt "as is" now? A) $100 B) $900 C) She makes a marginal loss of $600, not a marginal benefit. D) The marginal benefit cannot be determined.
Keynes once remarked that, in the long run, we're all dead. He was responding to the conventional wisdom of classical economics who argued that:
a. the supply curve should remain vertical in the long run. b. World War I was fought to free Britain from economic ruin. c. depression was only a short-run, temporary departure from full-employment equilibrium. d. funeral plots need to be determined by the market. e. market-based realities cause the estate tax to be too high.
GDP is not a perfect measure of well-being; for example,
a. GDP excludes the value of volunteer work. b. GDP does not address the distribution of income. c. GDP does not address environmental quality. d. All of the above are correct.
Which of the following is a characteristic of a good research question?
A. A good research question should have policy implications. B. A good research question should be constrained to macroeconomics. C. A good research question should be backed by available information. D. A good research question should be subjective and not objective.