In the above table, the merchandise trade balance for Country X is ________ billion dollars
A) +100
B) -150
C) +150
D) -100
D
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Assuming an interior solution, a production plan is profit maximizing if and only if all marginal revenue products are equal to input prices.
Answer the following statement true (T) or false (F)
Which of the following price indices comes closest to measuring the cost of living of the typical household?
A) GDP deflator B) consumer price index C) producer price index D) household price index
Assume that you own a lake house. Unfortunately your job will require that you spend the summer on the road and you won't be able to enjoy it. You decide that you will rent it out for the summer while you are working
The mortgage payment on the lake house is $1000 per month and the upkeep and maintenance if it is occupied is $200 month but zero if it is not rented. What is the minimum rent that you would be willing to receive and why? What information is irrelevant in your decision? Explain.
Your friend notices that U.S. auto production and U.S. population growth have moved together over several decades. He reasons that one way to slow population growth is for the government to order the auto makers to cut back on production. You gently point out to him that he
a. is correct only when the economy is in a recession b. has mistakenly inferred causation from observed correlation c. has ignored secondary effects d. has committed the fallacy of composition e. is correct only when the United States enjoys economic growth