Which of the following correctly defines the interest rate?
a. The rate at which households are interested in new consumer products, measured on a scale from 0 to 100.
b. The extent to which viewers pay attention to television advertising, measured as a fraction of 100 percent.
c. The extent to which news stories affect media consumers, measured on a 1-10 scale.
d. The amount of money paid per year to savers as a percentage of the amount saved.
d
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What is the problem that Obamacare seeks to solve and how does the solution work?
What will be an ideal response?
If the accounting profit equals $200,000 and implicit costs equal $40,000, the economic profit equals
a. $240,000. b. $200,000. c. $160,000. d. $40,000.
Which of the following explains why elected representatives will find borrowing to be an attractive method of financing current government programs?
a. the shortsightedness effect b. pork-barrel politics c. the invisible hand principle d. the public goods argument for government spending programs
If there are powerful buyers in a labor market, the use of the supply-and-demand model to analyze labor markets
A. will cause you to believe the wage will be lower than it is. B. is completely accurate. C. will cause you to believe the wage will be higher than it is. D. will cause you to believe that fewer people will be hired than will be.