Let S = y - (150 + 0.6y). Assume no government or foreign sectors. What is the consumption function?
A) C = 150 + 0.6y B) C = -150 - 0.6y C) C = 150 + 0.4y D) C = -150 + 0.4y
A
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Suppose your bank pays you 4 percent interest per year on your savings account, so that $1,000 grows to $1,040 over a one-year period
If prices increase by 1 percent per year over that time, approximately how much real value do you gain by keeping $100 in the bank for a year? A) $0 B) $10 C) $30 D) $50
Gabriel operates a ranch in Idaho where he raises cattle and grows potatoes. The figure above illustrates his production possibilities frontier. What is Gabriel's opportunity cost of raising another 100 cows?
A) 5.0 tons of potatoes B) 3.0 tons of potatoes C) 1.25 tons of potatoes D) 100 cows E) 1.0 ton of potatoes
When you purchase Gap clothing and baseball tickets
A) you are buying consumption goods. B) you are buying capital goods. C) you are consuming intermediate goods. D) you are buying physical capital.
The claims of the owners of a firm against the firm's assets are called:
A. working capital. B. assets. C. net worth. D. liabilities.