Because people can borrow when they are young, the life cycle theory would suggest that one's standard of living depends on
a. lifetime income rather than annual income.
b. aggregate income rather than annual personal income.
c. annual extended-family income rather than annual personal income.
d. income averaged across seasons rather than across years.
a
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Open market purchase will result in:
A) increase in bank reserves and a decrease in the federal funds rate. B) increase in bank reserves and an increase in the federal funds rate. C) decrease in bank reserves and a decrease in the federal funds rate. D) decrease in bank reserves and an increase in the federal funds rate.
PPF is the
A) price parity formula. B) possible production function. C) producer's preferred frontier. D) production possibilities frontier.
In a Nash equilibrium outcome for a two-firm balanced oligopoly
a. both firms avoid the worst case possible b. both firms end up in the worst case possible c. prices charged by both firms are relatively high d. profits earned by both firms are relatively high e. both firms form a cartel
A clear conclusion from offshoring debates and analyses is that:
a. Offshoring increases overall unemployment in the nation from which offshoring takes place. b. Offshoring's main effect is to decrease GDP in the nation from which offshoring takes. c. Offshoring could increase or decrease unemployment in the nation from which it takes place; the result depends on the circumstances. d. Offshoring results in net losses to the global economic community.