Demand-pull inflation is typically caused by rapidly rising costs of production
a. True
b. False
Indicate whether the statement is true or false
False
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From the data in the above table, GDP equals
A) $1,120. B) $1,280. C) $1,290. D) $1,360.
Which firm is not dealing with adverse selection
a. a manufacturer requires a 90 day probationary period for new employees b. a temporary clerical agency hires without verifying typing skills c. a manufacturer requires suppliers to be ISO 900 . certified d. Smokers get the worse life insurance rates as non-smokers
Which of the following is not correct?
a. Deficits give people the opportunity to consume at the expense of their children, but deficits do not require them to do so. b. Deficits and surpluses could be used to avoid fluctuations in the tax rate. c. The only times deficits have increased have been during times of war or economic downturns. d. Reducing the budget deficit rather than funding more education spending could, all things considered, make future generations worse off.
Table 1.3 shows the hypothetical trade-off between different combinations of brushes and combs that might be produced in a year with the limited capacity for Country X, ceteris paribus.Table 1.3Production Possibilities for Brushes and CombsCombinationNumber of combsOpportunity Cost(Foregone brushes)Number of brushesOpportunity Cost (Foregone combs)J4 0NAK3 10 L2 17 M1 21 N0NA23 On the basis of Table 1.3, the lowest opportunity cost for combs in terms of brushes is
A. 8.5 brushes per comb. B. 0.33 brush per comb. C. 10 brushes per comb. D. 2 brushes per comb.