In an uncertain world, private investors
a. always make decisions that lead to economic profit.
b. never make decisions that generate economic losses.
c. sometimes make decisions that lead to economic losses.
d. rarely invest in human capital.
C
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Since 1960, South Korea and Singapore enjoyed an average per-capita growth rates ________ the average industrialized world
A) far below B) far above C) about the same D) slightly below E) slightly above
Which of the following formulas is not correct?
a. ATC = AVC + (TFC/Q) b. TVC = TC/Q c. TC = TFC + TVC d. AFC = TFC/Q e. TVC = AVC ? Q
If nominal or money GDP increases 6 percent in 2011 (compared to 2010), and real GDP increases 4 percent over the same period, which of the following must be true?
a. Exports exceeded imports. b. The general price level as measured by the GDP deflator fell during 2011. c. The economy entered a recession in 2011. d. Inflation during 2011 was 2 percent.
When the Fed decreases the money supply, interest rates:
A. rise. B. fall. C. are unaffected. D. rise and then fall.