The time it takes to formulate a policy is known as
A) inside lags. B) crowding out. C) outside lags. D) fiscal policy.
A
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Which of the following goods is most likely to be over consumed? Fish in:
A. a pet store B. the grocery store C. the ocean D. a fishery
Inflation that causes an increase in the prices of goods and services will, other things being equal, tend to decrease nominal GDP
a. True b. False Indicate whether the statement is true or false
Japan and China produce guns and rice. The country with the lowest opportunity cost of guns (in terms of rice) will
a. import guns. b. have a comparative advantage in guns. c. have an absolute advantage in guns. d. have a comparative advantage in rice.
The following table provides information about production at the XYZ-TV Company. Number of WorkersTVs ProducedMarginal ProductValue of Marginal Product00------13535$35,00026833$33,00039931$31,000412829$29,000515527$27,000How many workers will XYZ-TV Company hire if the going wage for TV production workers is $60,000?
A. 0 B. More than 5 C. 4 D. 5