The most likely substitute good for cereal would be:
A. a bagel.
B. milk.
C. pizza.
D. a hot dog.
A. a bagel.
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Because a decrease in real autonomous spending results in a ________ in the price level, the ultimate effect on real GDP is ________ than predicted by the multiplier
A) fall; larger B) fall, smaller C) rise; smaller D) fall; smaller
Which of the following firms is most likely to spend on innovation?
A) A perfectly competitive firm B) A monopoly with absolutely no competition C) A firm that is the only controller of a key resource necessary for production D) A firm that enjoys some monopolistic power, but faces strong competition from its rivals
If additional units of a good could be produced at a constant opportunity cost, the production
possibilities frontier would be bowed outward (concave). Indicate whether the statement is true or false
Which of the following is closest to the future value of a $100 deposit earning 5 percent interest annually after 5 years?
A. $125 B. $128 C. $1,268 D. $105