During a period of hyperinflation, as households and firms avoid holding money,
A) potential GDP increases.
B) long term savings accounts become more popular.
C) barter becomes more common.
D) the costs of inflation decrease.
E) capital investment increases.
C
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Frank owns an apple farm and plans to spend 4 hours today picking apples. The number of apples he can pick per hour depends on the total number of hours he spends working in either the east orchard or the west orchard in the manner shown in the table below.Hours inEastOrchardNumber ofApples PerHourHours inWestOrchardNumber ofApples PerHour140110232210325310420410How should Frank divide his time between the east and the west orchard?
A. He should spend all 4 hours in the east orchard. B. He should spend 2 hours in east orchard and 2 hours in the west orchard. C. He should spend 3 hours in the east orchard and 1 hour in the west orchard. D. He should spend 1 hour in the east orchard and 3 hours in the west orchard.
Consumer income changes can shift market demand.
Answer the following statement true (T) or false (F)
In order to be binding, a price ceiling
A) must be high enough for firms to earn a profit. B) must coincide with the free market equilibrium price. C) must lie below the free market equilibrium price. D) must lie above the free market equilibrium price.
Refer to Table 18-3. The table above outlines the rankings of three members of the U.S. Senate on three spending alternatives
Assume that Congress can spend additional revenue on only one of the three spending alternatives and that Bart, Lisa, and Maggie, all members of the Senate, participate in a series of votes in which they are to determine which of the spending alternatives should receive funding. Three votes will be taken: (1 ) Immigration Reform and Unemployment Benefits (2 ) Immigration Reform and Social Security Reform and (3 ) Unemployment Benefits and Social Security Reform.