The table above gives information about the economy of Spain. If the growth rate in 1998 is maintained, real GDP will double in ________ years
A) 10 B) 18 C) 19 D) 4 E) 25
B
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If a firm fails to provide investors with at least a normal rate of return,
A) it will have a positive economic profit but a negative accounting profit. B) it will not be able to remain in business in the short run. C) it will shut down in the short run but will be able to remain in business in the long run. D) it will not be able to remain in business in the long run.
In which of the following periods was the yield curve inverted?
A) February 2004 B) February 2007 C) February 2010 D) The yield curve was not inverted during any of these periods.
If the marginal propensity to consumer is 0.8, the spending multiplier must be:
A. 5 B. 2 C. 1.2 D. 1.8
Which of the following contains only normative statements?
a. The birth rate is reduced as economies urbanize, but that also leads to a decreased average age of developing countries' populations. b. An increase in the price of corn will decrease the amount of corn purchased. However, it will increase the amount of wheat purchased. c. A decrease in the price of butter will increase the amount of butter purchased, but that would be bad because it would increase Americans' cholesterol levels. d. None of the above contain only normative statements.