Australia has one of the most heavily subsidized agricultural sectors as a percentage of domestic GDP
Indicate whether the statement is true or false
FALSE
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According to the classical system, saving is a function of
a. income. b. the real interest rate. c. the real wage. d. the profitability of firms. e. all of the above.
Advantages of specialization do not include: a. reduced interdependence
b. the exploitation of comparative advantage. c. the ability to utilize more complex production processes. d. Productivity gains from learning by doing.
Motor oil and gasoline are complements. If the price of motor oil increases, consumer surplus in the gasoline market
a. decreases. b. is unchanged. c. increases. d. may increase, decrease, or remain unchanged.
You invest an amount today for four years that pays 6% annually. The bank compounds annually. At the end of the four years you will have $150. What amount must you invest today?
A) $148.81 B) $138.81 C) $128.81 D) $118.81