In order for a country to achieve more consumer goods in the future, it must
A. allocate more resources toward investment today.
B. devote more resources toward consumer goods today.
C. have a faster economic growth rate in the future.
D. devote more resources to consumer goods in the future.
Answer: A
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The above figure shows the U.S. market for replacement cell phone batteries. With free trade, U.S. production is equal to ________ batteries per year. When a $2 tariff is in place, U.S. production is equal to ________ batteries per year
A) 100,000; 300,000 B) 100,000; 500,000 C) 300,000; 100,000 D) 300,000; 500,000 E) 900,000; 700,000
Which of the following statements best summarizes the law of diminishing marginal returns?
A) In the short run, as more labor is hired, output diminishes. B) In the short run, as more labor is hired, output increases at a diminishing rate. C) In the short run, the amount of labor a firm will hire diminishes as output increases. D) As more labor is hired, the length of time that defines the short run diminishes.
_____________ is the utility derived from the payoff and the gamble itself
Fill in the blank(s) with the appropriate word(s).
The Federal Deposit Insurance Corporation:
A. has eliminated bank failures. B. insures all demand deposits without limit. C. insures all demand deposits up to $100,000. D. includes commercial banks and state-chartered banks as its members.