If the rate of productivity growth in the United States exceeds the rate of productivity growth in Great Britain we would expect the U.S. dollar to depreciate in value against the British pound
Indicate whether the statement is true or false
FALSE
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A Lorenz curve that is perfectly straight indicates
A) that society is very rich. B) that a small portion of the population accounts for most of the income. C) that a large portion of the population accounts for most of the income. D) complete income equality.
Gwen's decision to buy a new television instead of a bicycle for the same price
a. means that opportunity cost is zero since both cost the same amount. b. would not have involved trade-off and opportunity cost if Gwen had decided to put the money in a bank CD instead. c. would not imply a trade-off because of scarcity if Gwen were a multimillionaire. d. means that the opportunity cost to Gwen is the bicycle that she has given up.
The discount rate is the interest rate charged by:
A. The Federal Reserve when it lends money to private banks. B. A private bank when it lends money to another private bank. C. A private bank when it lends money to commercial customers. D. A regional Fed bank when it lends money to another regional Fed bank.
Refer to the information provided in Figure 10.3 below to answer the question(s) that follow. 
Figure 10.3 Refer to Figure 10.3. The market wage is initially W0 and the firm is initially at Point A. Labor supply decreases from S0 to S1. After the firm is fully able to adjust all inputs, the firm will hire ________ units of labor to maximize profits.
A. I0 B. I1 C. I2 D. I3