In the row of this table containing blank (B), people are holding ______________ of their wealth in bonds and ________________ of their wealth in money.
Exhibit 15-4.
Assume that people have only two choices when it comes to holding their wealth: in money or in bonds.
A. too much; too little
B. too little; too much
C. just the right amount; too little
D. just the right amount; too much
E. just the right amount; just the right amount
Answer: B. too little; too much
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Which of the following correctly comments on the following statement? "The only way to increase the revenue from selling a product is to increase the product's price."
A) This statement is not true. Revenue will increase as the price of the product increases only if demand is inelastic. B) It is not true. Revenue will increase as the price of the product increases only if demand is elastic. C) This statement is not true. Revenue will decrease as the price of the product increases because quantity demanded will fall. D) The statement is true.
Which of the following is true? a. The Rule of 70 says that the number of years necessary for a nation to double its output is approximately equal to the nation's growth rate divided by 70. b. Economic growth is usually measured by the annual percent change in the nominal output of goods and services per capita. c. An increase in labor input necessarily increases output per capita
d. Neither the initial development process nor the sustained growth of an economy is dependent on a large natural resource base.
Refer to the accompanying table. Julia's opportunity cost of making a cake is: Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes
A. 6/5 of a cake. B. 60 cakes. C. 5/6 of a cake. D. 6 cakes.
Aggregation means the:
A. worsening of an economic situation. B. adding up of individual economic variables to obtain economy wide totals. C. participation in national economic policy discussions D. enhancement of the power and wealth of a nation.