A decrease in the interest rate will cause the intertemporal budget constraint to _______________ through the endowment point.
A. pivot clockwise
B. pivot counter-clockwise
C. shift clockwise
D. shift counter-clockwise
B. pivot counter-clockwise
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As a percentage of GDP, health care spending on Medicare and Medicaid is expected to double over the next 40 years unless health care costs begin to grow at a slower rate
Indicate whether the statement is true or false
Why is our ability limited in using economic fundamentals to predict exchange-rate movements for short periods into the future? Why is there some success in predicting exchange rates in the long run?
What will be an ideal response?
If, in the short run, the level of output is zero, which of the following statement is TRUE?
A. Total cost and total fixed cost graphs will begin at the origin. B. Total variable cost is zero but total cost equals total fixed cost, and both of the latter exceed zero. C. Total fixed cost will also be zero at first but will rise once output rises. D. none of these
When workers are paid a wage that is less than their contribution to a monopsonist's revenues
A. they seek part time employment. B. they file a grievance with their union representative. C. this is sometimes referred to monopsonistic exploitation. D. this is sometimes referred to as an incentive.