According to Robert Fogel, economic growth ________ health, and health ________ economic growth
A) improves; worsens
B) improves; improves
C) worsens; improves
D) worsens; worsens
Answer: B
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If the interest rate on saving is 5 percent per period, then the true opportunity cost of being paid $100 next period instead of this period is
a. $5. b. $105. c. less than $5 if people suffer from a "defective telescopic faculty." d. more than $5 if people suffer from a "defective telescopic faculty."
In order for an increase in aggregate demand to raise Real GDP and the price level, the aggregate supply curve must be ____________________. If an increase in aggregate demand raises the price level but leaves Real GDP unchanged, the aggregate supply curve must be _____________________
A) upward-sloping; vertical B) upward-sloping; horizontal C) downward sloping; vertical D) vertical; upward-sloping E) vertical; downward-sloping
People tend to hold less money as
A. credit availability rises. B. the average price level falls. C. incomes fall. D. All of the choices are correct.
Average total cost and average variable cost are minimized at the same level of output.
Answer the following statement true (T) or false (F)