Suppose a recession surprises economic forecasters who did not see it coming. This is an example of a _____
a. cyclical lag
b. recognition lag
c. decision-making lag
d. implementation lag
e. effectiveness lag
b
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The best measure of the income households actually have available to spend is
A) national income. B) disposable personal income. C) personal income. D) net national income.
An increase in the required reserve ratio will lead to a/an:
a. increase in the monetary base. b. increase in the money multiplier. c. increase in the money supply. d. both b and c. e. both a and c.
According to the rule of rational choice, an individual will undertake an activity as long as: a. the expected marginal benefits are less than the expected marginal costs. b. the expected marginal benefits are greater than the expected marginal costs. c. total expected costs exceed total expected benefits
d. total expected benefits exceed total expected costs.
A lottery promises a $250,000 prize. But the prize money is paid out in $50,000 annual installments with the first installment received today.. The winner is offered the option of an immediate lump-sum payment. If the interest rate remains at 10 percent for the entire period, what is the smallest amount the winner should accept?
a. $189,540 b. $192,970 c. $208,494 d. $225,000