The U.S. Constitution stipulates that when government uses its takings powers to acquire land for a project,
A) the government must own and operate the completed project.
B) the government can resell the land to a private developer.
C) the government must turn over the land to state or city governments.
D) none of the above
D
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Use the following figure to answer the next question.
At which point does marginal cost (MC) equal average variable cost (AVC)?
A. Point B B. Point C C. Point D D. Point A
The term "depository institution" refers to
A) savings and loan associations only. B) commercial banks, credit unions, and savings and loan associations. C) credit unions only. D) commercial banks only.
Looking at real and nominal interest rates in the United States since 1971, we see that the
A) nominal interest rate has at times been negative. B) real interest rate has been greater than 10 percent for most years. C) real interest rate has at times been negative. D) real interest rate was above 5 percent during the low inflation of the 1970s. E) real interest is generally greater than the nominal interest rate.
If an economy keeps increasing its capital stock, then over time its production possibilities curve will:
A. not move. B. shift to the left. C. shift to the right. D. disappear because scarcity ceases to exist.