Which of the following does not reflect a positive rate of time preference?
a. Concert-goers yell and scream when the stage is still dark an hour after the concert was scheduled to start.
b. Borrowers have to pay interest on loans.
c. A dieter, allowed three ounces of butter per day, spends the whole allotment on her toast at breakfast.
d. A dieter, allowed three ounces of butter per day, promises himself some new clothes if he can break the habit of spending the whole allotment on his toast at breakfast.
e. A student stays up late every night for a week to finish her term paper two months before it is due.
E
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Suppose that government purchases of goods and services increase by $200 and at the same time lump-sum taxes increase by $200 . Which of the following is true in this case?
a. Whether the budget deficit will increase or decrease will depend on the value of the marginal propensity to consume. b. The budget deficit will increase by $200 c. The budget deficit will increase by $400. d. The budget deficit will decrease as the economy expands. e. There will be no change in the budget deficit.
Are there key differences between an increase in the capital stock and an improvement in the level of technology?
In 2015, GDP per person in the United States was almost
a. $38,000. b. $36,000. c. $49,000 d. $56,000
The annualized monthly CPI numbers are
A. less volatile than the Core CPI. B. different, but no more or less volatile than the Core CPI. C. more volatile than the Core CPI.