The Yarn Ball is a knitting supply store. Its marginal product has increased as the owner has added staff over the past year. What is the most likely explanation for this increase?
a. increasing specialization
b. declining variable costs
c. decreasing efficiency
d. additional profits
a. increasing specialization
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The inflation experienced in the United States during the 1970s as a result of OPEC oil price increases is an example of: a. demand-pull inflation. b. hyperinflation
c. cost-push inflation. d. cyclical inflation. e. disinflation.
Suppose a U.S. citizen purchases a one-year Norwegian bond that yields 10 percent interest. Between the purchase date and the maturity date, the exchange rate changes from to How much was initially invested in the bond if the dollar value of the proceeds at maturity is $3,500? (roundoff up to the nearest whole number)
a. $2,916 b. $3,150 c. $3,500 d. $3,850 e. $4,200
An increase in the nominal interest rate would
a. encourage people to hold smaller money balances. b. encourage people to hold larger money balances. c. force the Fed to reduce the money supply. d. cause the real interest rate to decline.
The federal poverty line is set at about three times the cost of providing ______.
a. a new car b. a nutritious diet c. an average house d. an acre of land