What two growth rates comprise of the growth rate of potential GDP?
A. Capital gains and investment
B. Money and prices
C. Labor input and hours worked
D. Government spending and net exports
Answer: C
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Refer to Figure 3.2. If Wilma plays North and Betty plays East, what is Betty's payout?
A) 12 B) 15 C) 16 D) 21
The above figure shows the demand and marginal cost curves for a monopoly. The deadweight loss of this monopoly equals
A) h. B) c. C) c + f. D) c + d + e + f.
Which of the following is an outcome of high and variable inflation?
a. Incentives in the economy to adjust in response to changes in prices are stronger. b. Penalties in the economy to adjust in response to changes in prices are weaker. c. Penalties in the economy to adjust in response to changes in prices are weaker. d. Incentives in the economy to adjust in response to changes in prices are weaker.
Annie, a high school student, babysits to earn extra cash. In order to differentiate herself from other babysitters, Annie took a babysitting course from the Red Cross. This is an example of a market signal.
Answer the following statement true (T) or false (F)