A shift outward in the production possibilities curve is the direct result of improvements in the efficiency factor for economic growth.
Answer the following statement true (T) or false (F)
False
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On a graph of the consumption function, where the consumption function is below the 45 degree line, there is
A) zero disposable income. B) saving. C) maximum disposable income. D) no induced consumption. E) dissaving.
Refer to the scenario above. If Maria's opportunity cost of time increases to $80 per hour, the cost of driving to destination A is:
A) $480. B) $730. C) $800. D) $970.
Tom, the manager and owner of a small company, believes in the signaling theory of education, not the human capital theory. As such, we would expect Tom not to offer which of the following company benefits?
a. employer-matching 401k retirement plan contributions b. tuition reimbursement for workers who take college classes c. on-site day care d. health insurance
In domestic economies, inflation bias often exists, which reduces the power of the central bank to use monetary policy to stimulate economic activity. If an anti-inflation nation such as Germany enters into a monetary union with such nations, what remedy is there for this problem?
A) Germany would have to conform with an activist monetary policy that gave preference to economic performance. B) Germany could insist on the central bank being insulated from politics and democratic control. C) Germany could insist that all central bank policies be reviewed by the Parliament. D) Germany would allow nations into the monetary union, even with their inflation bias, because that would disappear quickly on joining the Eurozone.