According to the rule of 70, if you earn an interest rate of 3.5 percent, your savings will double about every 20 years
a. True
b. False
Indicate whether the statement is true or false
True
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The firm in the above figure has an economic profit of ________
A) $0 B) $80 C) $160 D) more than $161 E) less than zero, that is, the firm has an economic loss
The table above gives the total revenue and total cost for a perfectly competitive firm producing chocolate chip cookies. If the firm is producing 1 pound of cookies, to maximize its profit it will
A) increase its output. B) decrease its output. C) continue producing 1 pound of cookies. D) shut down.
Core inflation is all of the following but:
A. a measure of inflation that excludes goods with historically volatile price changes. B. the BLS's official measure of changes in prices. C. Both an overall rise in prices in the economy. D. a measure of inflation that excludes gasoline and food price changes.
Which of the following events led to the debate over the applicability of the classical model?
a. World War II b. World War I c. Korean War d. The Great Depression e. The Great Society