In economics, choosing one activity means:
A. people signal they only like that activity.
B. people always act rationally.
C. choosing not to take advantage of another opportunity.
D. that activity must be observable to be studied.
Answer: C
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Suppose that the due to technological innovations, the absolute price of a recordable CD declines by 25% while the absolute price of a recordable cassette tape declines by 10%. In this situation, the price of the CD relative to the price of a tape
a. falls. b. rises. c. remains the same. d. changes unpredictably.
Ensuring that high-quality public education is freely available to all children is one of the most important ways that a country can:
A. increase its stock of human capital. B. decrease its stock of human capital. C. decrease its productivity. D. increase its foreign direct investment.
During 2013, a country's total purchases of newly produced capital goods are $1,000 billion, the country issues $750 billion of stock certificates, and there is $200 billion of depreciation. Net investment in this country equals
A) $550 billion. B) $1,000 billion. C) $1,550 billion. D) $1,750 billion. E) $800 billion.
According to the Bureau of Economic Analysis, household disposable income fell by 0.3 percent of August, 2012. If all else remains the same, what is the likely impact of this fall on the real interest rate?
A) The real interest rate will rise. B) The real interest rate will fall. C) A change in household disposable income will have no impact on the real interest rate. D) The impact on the real interest rate is ambiguous.