In order for the money spent on children to be viewed as a good investment, economists would look at the ________ of the costs and compare that to the ________ of the benefits.
A. future value; present value
B. present value; present value
C. present value; future value
D. future value; future value
Answer: B
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If the economy were producing at point E and moved to point B the opportunity cost in terms of lost production of outboard motors would be
A. 16 units of outboard motors.
B. 14 units of outboard motors.
C. 12 units of outboard motors.
D. 10 units of outboard motors.
If in the short run the demand for mass transit is relatively inelastic and in the long run the demand is relatively elastic, then a price ________ will ________ total revenue in the short run but ________ total revenue in the long run.
A. decrease; decrease; decrease B. decrease; increase; decrease C. increase; decrease; increase D. increase; increase; decrease
Explain how low levels of living can turn into a vicious cycle in developing countries
What will be an ideal response?
If the data show that periods of high economic growth rate accompanied by high inflation rates, then changes in aggregate demand are the primary source of economic fluctuations
a. True b. False Indicate whether the statement is true or false