Refer to Table 8-20. Given the following information, calculate the rate of increase in the price level from 2015 to 2016
A) 8.6% B) 7.9% C) -7.9% D) -8.6%
A
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The construction of the interstate highway system in the United States is an example of a government policy to promote economic growth by:
A. improving technology. B. increasing human capital. C. increasing physical capital. D. improving the social and legal environment.
Someone who is risk-neutral has
A) diminishing marginal utility of wealth. B) constant marginal utility of wealth. C) increasing marginal utility of wealth. D) less marginal utility of wealth than someone who is risk-preferring.
When total product is rising
A) fixed cost must be rising. B) marginal product must be positive. C) variable cost must be declining. D) marginal product must be negative.
Due to extremely large fixed costs, an electricity generating plant probably experiences which of the following returns to size?
A) diseconomies of scale B) diminishing marginal product C) constant returns to scale D) economies of scale