In the market for hardwood, everything else held constant, if the rate of interest increases:
a. the price of the hardwood will fall today.
b. the lumberjacks will harvest fewer trees today.
c. prices of boats and furniture will increase in the present period.
d. the lumberjacks will harvest all the trees leaving nothing for the future.
e. the price of the hardwood will fall in the future.
a
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Refer to Scenario 25-1. M1 in this simple economy equals
A) $1,000. B) $2,000. C) $3,000. D) $8,000.
Which investment bank filed for bankruptcy on September 15, 2008 making it the largest bankruptcy filing in U.S. history?
A) Lehman Brothers B) Merrill Lynch C) Bear Stearns D) Goldman Sachs
Which of these is not a good example of skill-biased technical change?
A) GPS navigation equipment in delivery trucks B) web-enabled virtual classrooms C) self-service check out scanners D) use of robots in automobile assembly
According to the text, the relationship between economic growth and the degree of how closed an economy is
A) positive. B) negative. C) constant. D) unstable.