As the stock of capital grows, there will typically be ________ depreciation.
A. less
B. more
C. the same amount of
D. no
Answer: B
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An increase in population shifts the production possibilities frontier inwards over time
Indicate whether the statement is true or false
Assume Congress enacts a $500 billion increase in spending and a $500 billion tax increase to finance the additional government spending. The result of this balanced-budget approach is a:
A. $500 billion decrease in aggregate demand. B. $500 billion increase in aggregate demand. C. $1,000 billion increase in aggregate demand. D. $1,000 billion decrease in aggregate demand.
You are a hotel manager considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the following table. ProjectBoom (50%)Recession (50%)A$40-$20B-$10$30C$50-$50D$60$60The expected value of project A is:
A. $20. B. $10. C. $5. D. None of the answers are correct.
Which of the following statements regarding economic regulation is TRUE?
A. Economic regulation has failed by insisting that firms must be allowed to earn a normal rate of return. B. Economic regulation deals mainly with prices firms charge, but firms can alter their return by altering quality of service, effectively raising the price per constant-quality-unit. C. Rate-of-return regulation has been much more effective than cost-of-service regulation. D. Economic regulation deals only with rates of return, and not with prices.