The real wage is the wage:
A. measured in terms of purchasing power.
B. employers are required to pay workers.
C. measured in current dollars.
D. required to maintain a minimum standard of living.
Answer: A
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The probability of being detected after committing a murder in Richland is 0.8, and if detected the murderer is imprisoned for a minimum of 10 years. What is the expected punishment in this case?
A) 2 years B) 8 years C) 12 years D) 10 years
The difference between gross investment and net investment is
A) the capital stock. B) depreciation. C) the real interest rate. D) equal to saving.
Refer to Figure 2-3. Sergio Vignetto raises cattle and llamas on his land. His land is equally suitable for raising either animal. Which of the graphs in Figure 2-3 represent his production possibilities frontier?
A) Graph A B) Graph B C) Graph C D) either Graph A or Graph C E) either Graph B or Graph C
Government deficits mean that
a. national saving is negative so public saving is negative. b. national saving is negative so public saving is lower than otherwise. c. public saving is negative so national saving is negative. d. public saving is negative so national saving is lower than otherwise.