In order to measure what a country produces, we:
A.) Summarize total output in physical terms.
B.) Count units of output.
C.) Count the weight of different products.
D.) Summarize the monetary value of output.
D.) Summarize the monetary value of output.
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In the early 2000s, the Fed's ____________ interest rate policy had several effects. Among these effects were a _______________ in mortgage interest rates and a(n) ____________ in the size of loans taken out by mortgage borrowers
A) high; decline; decrease B) low; decline; increase C) low; rise; increase D) high; rise; increase
What is the difference between an “all or nothing” decision and one that involves marginal thinking?
a. how much of something to do versus how complicated it is b. whether to do something versus how much of it to do c. how important the matter is versus how complicated it is d. whether to do something versus how important it is
How will an increase in the level of human capital, ceteris paribus, affect an economy's production possibilities curve?
A. Shift the curve inward. B. Result in a movement from inside the curve to a point on the curve. C. Result in a movement along the curve. D. Shift the curve outward.
Over time, quotas usually lead to larger deadweight losses than tariffs
Indicate whether the statement is true or false