Society's economizing problem involves: (check all that apply)
a. devoting equal amounts of resources to goods and services such as health care, energy, and education
b. devoting more resources to physical capital goods that deliver consumer goods and lead to economic growth and higher standards of living.
c. making choices in the face of scarcity.
d. scarce resources.
e. opportunity cost.
c. making choices in the face of scarcity.
d. scarce resources.
e. opportunity cost.
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The nominal interest rate is 12 percent and the inflation rate is 4 percent. The opportunity cost of holding a dollar for a year is
A) 16 cents. B) 88 cents. C) 48 cents. D) 12 cents. E) 8 cents.
Retained earnings are
A) the funds held back to pay out dividends. B) the funds used to pay corporate taxes. C) profits not given out to stockholders. D) the reason there is double taxation.
If Irene can make either four chairs or one table in an hour and Greg can make either three chairs or two tables in an hour, then
A) Irene has the absolute advantage in the production of tables. B) Greg has the absolute advantage in the production of chairs. C) Irene has the comparative advantage in the production of chairs. D) Greg has the comparative advantage in the production of chairs.
The market for bonds is initially described by the supply of bonds - S0, and the demand for bonds - D0,with the equilibrium price and quantity being P0 and Q0. If the U.S. government's borrowing needs decrease, all other factors constant:
A. Bond supply curve to shift to S1 B. Bond demand curve to shift to D1 C. Bond demand curve to shift to D2 D. Bond supply curve to shift to S2