If we tried to pay off the national debt within a few years we would definitely have a _____.
Fill in the blank(s) with the appropriate word(s).
depression
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Refer to Figure 2-14. What is the opportunity cost of producing 1 popsicle in Greenland?
A) 2/3 of a snow cone B) 5/6 of a snow cone C) 1 1/5 snow cones D) 240 snow cones
Using the above figure and the Pareto criteria to determine the public interest, would a move from point A to point C be in the public interest?
a. yes b. no c. possible, depending upon other factors d. cannot say using the Pareto criteria
By keeping the basket of goods and services the same when computing the CPI, the Bureau of Labor Statistics isolates the effects of price changes from the effect of any quantity changes that might be occurring at the same time
a. True b. False Indicate whether the statement is true or false
Which of the following is a macro consequence of a sudden increase in the average level of prices?
A. People lengthen their time horizons. B. Nominal income falls by a smaller percentage than real income. C. People on fixed incomes benefit. D. Uncertainty is greater.