Under the gold standard, a balance of payments surplus leads to an outflow of gold
a. True
b. False
Indicate whether the statement is true or false
False
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The above table has data from the nation of Media. Based on these data, the marginal propensity to consume is
A) 0.67. B) 0.25. C) 1.33. D) 1.50. E) 0.75.
Which of the following will change only the quantity demanded of oranges?
A) an increase in the population B) a change in the price of tangerines C) a change in the price of oranges D) a decrease in the taste and preferences for oranges
If a negative externality were present in a market, the social benefit curve would be:
A. above the private demand curve. B. below the private demand curve. C. the same as the private demand curve. D. Cannot say without more information.
An economy has two workers, Jen and Rich. Everyday they work, Jen can produce 2 TVs or 10 radios, and Rich can produce 4 TVs or 12 radios. What is the opportunity cost for Jen to produce one TV?
A. 5 radios B. 1/3 radio C. 10 radios D. 1/5 radio