Consider a PPC with automobiles on the vertical axis and cotton on the horizontal axis. The discovery of a new fertilizer that improves crop yield will shift:
a. the vertical intercept up but will not shift the horizontal intercept.
b. the horizontal intercept to the right but will not shift the vertical intercept.
c. the horizontal intercept to the left and the vertical intercept upward.
d. the vertical intercept downward and the horizontal intercept to the right.
e. neither the horizontal intercept nor the vertical intercept.
b
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If a bond pays the same coupon payment forever without a maturity, it is known as a
A) perpetuity. B) forever bond. C) discount bond. D) consolidated bond.
Many eligible voters do not vote, and many who do vote don't read the biographies of candidates before they vote. These are examples of
a. the median-voter model b. representative government c. rational ignorance d. stupidity e. laziness
When the quantity of money that people want to hold changes as a result of an increase in their income, they want the additional money mainly to serve as a
A. store of value. B. standard of value. C. medium of exchange. D. means of deferred payment.
Indians and Indian-Americans have played a pivotal role in powering Silicon Valley's digital revolution. The emigration of talented people from countries like India to countries like the United States is often called:
A. credentialism. B. the brain drain. C. Malthusianism. D. outsourcing.