When the government prints more money to finance debt, it is actually creating a situation that could result in
A) lowering foreign spending. B) inflation.
C) increasing domestic spending. D) devaluing of the dollar in markets.
B
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The amount of foreign aid in proportion to developed countries' GNP has
(a) increased over time. (b) remained fairly stable over time. (c) decreased over time. (d) fluctuated widely but has shown no clear trend.
Consumers know that some fraction x of all new cars produced and sold in the market are defective. The defective ones cannot be identified except by those who own them. Cars do not depreciate with use. Consumers are risk-neutral and value nondefective cars at $10,000 each. New cars sell for $8,000 and used ones for $2,000. (Note that since buyers are risk-neutral, the price of a new car reflects the expected value of purchasing a car that may or may not be defective.) What is the fraction x?
A firm estimates its long-run production function to beQ = -0.0075K3L3 + 12K2L2Suppose the firm employs 12 units of capital. At ________ units of labor, average product of labor begins to diminish.
A. 32.21 B. 76.66 C. 82.27 D. 66.67 E. 44.44
Generally, specialization leads to
A) constant opportunity costs. B) greater productivity. C) the production of fewer capital goods. D) greater self—reliance.