Since the mid-1980s, what has happened to the debt-to-income ratio of American households?
What will be an ideal response?
It has rapidly increased
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With positive net exports, a nation is a net ________, and thus has a ________ "net foreign investment."
A) seller of assets to foreigners, positive B) seller of assets to foreigners, negative C) buyer of foreign assets, positive D) buyer of foreign assets, negative
Under a system of private property, could a 60-year-old owner of a tree farm benefit by planting and caring for
a. No, the farmer will be dead before the crop will be ready for harvest. b. No, the value of the farmer's land will decline since he is taking it out of production for the next 50 years. c. Yes, the farmer will benefit because this action will increase the value of the land if and when the farmer decides to sell. d. Yes, but only if the project is subsidized by the government or private conservation groups.
The marginal rate of technical substitution is
A. the slope of the isocost curve. B. the rate at which the firm can substitute labor for capital while holding total cost constant. C. the rate at which the firm can substitute labor for capital while holding output constant. D. both a and c E. none of the above
Assume soybeans are produced in a perfectly competitive market. A soybean farmer is currently maximizing his profits. If the market price of soybeans falls, after the farmer adjusts to the new price, he will be producing ________ bushels of soybeans, and his profit will be ________.
A. fewer; the same B. the same number of; the same C. fewer; lower D. more; the same