Which of the three central concepts in macroeconomics is cited in the textbook as being linked to crime, mental illness, and suicide?
A) the inflation rate
B) the unemployment rate
C) productivity growth
D) None of the above is cited as being linked to these events.
B
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The oil depletion formula discussed in the chapter uses "proven resources" in its calculation. Explain what these "proven resources" are with respect to known and unknown oil reserves, and economical and uneconomical oil extraction met
What will be an ideal response?
The principal policy-maker of the Federal Reserve is the
A) Chairman of the Federal Reserve Board of Governors. B) president of the New York Federal Reserve bank. C) president of the Washington, D.C. Federal Reserve bank. D) Comptroller of the Currency.
In the presence of a negative externality, a specific tax can achieve the social optimum because
A) output is reduced to zero as a result. B) it internalizes the external cost. C) it directly charges the producer for polluting. D) the price of the good rises by the full amount of the tax.
All of the following costs are included in the calculation of accounting profit, except
a. Interest payments on borrowed funds b. Costs paid to suppliers for product ingredients c. Opportunity cost of capital d. Depreciation expenses related to investments in buildings and equipment