The United States gives ________ percent of its total output to foreign aid
A. 0.28
B. 0.7
C. 0.4
D. 0.19
Answer: D
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Suppose you put $500 into a bank account today. Interest is paid annually and the annual interest rate is 3 percent. The future value of the $500 after 1 year is
a. $485.44. b. $496.50. c. $509.28. d. $515.00.
If demand decreases and supply increases in a market that is initially in equilibrium, then _____
a. the equilibrium price will always increase. b. the equilibrium quantity will always decrease. c. the equilibrium price will remain unchanged. d. the equilibrium quantity will remain unchanged. e. the equilibrium price will always decrease.
A constant-cost industry is one in which:
A. input prices do not change as output changes in the long run. B. supply is highly inelastic. C. the short-run supply curve is horizontal. D. All of these
Consider a labor market in equilibrium. If both demand curve and supply curve of labor shift to the right, then the wage rate in the market will:
A. increase. B. decrease. C. remain unchanged. D. either increase or decrease or remain unchanged.