If an economy's population grows at 3 percent and real GDP grows at 2 percent, then:
a. per capita real GDP is declining.
b. the economy's standard of living is increasing.
c. per capita real GDP is negative.
d. per capita real GDP is growing.
e. the economy is experiencing unemployment.
a
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Table 5-1 Number of milkshakes consumed123Total utility from milkshakes (in $)$23$28$31Number of sandwiches consumed123Total utility from sandwiches (in $)$40$43$45? ? Table 5-1 gives information on George’s total utility from consuming milkshakes and sandwiches. If George’s income this week is $15, milkshakes are $3 each, and sandwiches $2, he will maximize his utility if he buys
A. three milkshakes and two sandwiches. B. three milkshakes and three sandwiches. C. no milkshakes and as many sandwiches as possible. D. two milkshakes and three sandwiches.
Do people make decisions on the basis of the nominal interest rate or the real interest rate? What is the relationship between the two interest rates?
What will be an ideal response?
By Gresham's law, commodity money will always drive out fiduciary money
a. True b. False Indicate whether the statement is true or false
If the value of the U.S. dollar appreciates in foreign exchange markets then this will likely cause
a. the relative price of American exports to rise for foreigners interested in buying U.S. exports. b. the relative price of American imports to fall for Americans interested in buying U.S. imports. c. U.S. exports to fall and U.S. imports to rise creating a balance of trade deficit. d. All of the above.