Which of the following is true?
a. When workers are more productive, the demand for their services will be higher.
b. In order to earn a large income, one must provide large benefits to others.
c. High productivity (a large output per hour worked) is the key to high earnings for both individuals and countries.
d. All of the above are true.
D
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What is the real (adjusted for inflation) present value of $104.25 that you could receive one year from now, given that the rate of interest is 4.25 percent and the anticipated rate of inflation is 1 percent?
A) $99.05 B) $100.97 C) $107.64 D) $100.00
Bobby's neighbor is growing a tree that is blocking Bobby's ocean view. Bobby is considering taking his neighbor to court. This is most likely an example of a:
a. considerate neighbor. b. public good. c. free rider. d. positive externality. e. negative externality.
Banks lost trillions of dollars when the housing bubble collapsed because:
A. many borrowers defaulted on their mortgages. B. many large banks held massive quantities of mortgage-backed securities. C. most of their customers had to close their accounts due to foreclosures. D. Both A and B are correct.
An economy that has a private sector and a public sector is called a ______________.
Fill in the blank(s) with the appropriate word(s).