Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point B to Point C so that an additional 20 OLED televisions could be produced, production of LCD televisions would have to be reduced by
A. more than 30.
B. exactly 60.
C. fewer than 30.
D. exactly 30.
Answer: A
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The discount rate is the interest
A. rate at which the central banks lend to the United States Treasury. B. rate at which the Federal Reserve Banks lend to commercial banks and thrift institutions. C. yield on long-term government bonds. D. rate at which commercial banks and thrifts lend to the public.
Sally purchased a log-splitter five years ago. This year, she purchases some new parts, gasoline, oil, and spends 2 hours repairing the log-splitter. Which of the following is included in this year's GDP?
a. the amount she paid to buy the new parts b. the amount she paid to buy new parts and gasoline c. the amount she paid to buy new parts, gasoline, and oil. d. the amount she paid to buy new parts, gasoline, oil, and the market value of the 2 hours spent to repair the log-splitter.
Based on general trends, which employee will earn the most?
a. Raul, who has a doctorate b. Lindsey, who dropped out of high school c. Carmi, who took some online classes after high school d. Benji, who earned an associate’s degree
When estimating a labor demand function, one needs to
A. assume labor demand is equal across states. B. labor supply is perfectly elastic. C. find an instrument (e.g., policy) that shifts labor supply over time or location. D. find an instrument (e.g., policy) that shifts labor demand over time or location. E. assume labor demand is equal across industries.