The outcome of the game in the figure show predicts that Nike will earn profits of:
A. $10 million.
B. $4 million.
C. $15 million.
D. $2 million.
Answer: B
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As the real wage rate rises, the opportunity cost of
A) working rises. B) saving rises. C) leisure rises. D) buying goods and services rises. E) leisure falls.
Suppose the economy is producing at the natural rate of output. An increase in consumer and business confidence will cause ________ in real GDP in the short run and ________ in inflation in the short run, everything else held constant
A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease
Which factor listed below does NOT help account for the age-earning cycle?
A) productivity B) number of hours worked each week C) effects of aging D) racial discrimination
In the circular-flow diagram, payments for labor, land, and capital flow from firms to households through the markets for the factors of production
a. True b. False Indicate whether the statement is true or false