Which of the following is least likely to be included in a definition of basic human needs?
a. A minimal level of clothing
b. A minimal level of health care
c. A minimal level of savings
d. A minimal level of shelter
e. A minimal level of calorie intake
c
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Drive with Us is an automobile retailer and pays floor plan financing to finance the cars they hold in inventory. If the interest rate on their floor plan financing increases from 4 to 5 percent, Drive with Us's expected marginal cost from holding additional cars in inventory will shift ________ and the profit-maximizing number of cars to hold in inventory will ________.
A) downward; increase B) upward; increase C) upward; decrease D) downward; decrease
Which is the most accurate statement?
A. Although no one theory can explain all poverty in the U.S., welfare dependency probably explains most of it. B. Poverty can be explained mainly by the laziness of the poor. C. There is no theory of poverty that really explains much. D. There are many theories of poverty, and while none can explain all poverty, each does explain some of it.
Answer the following questions true (T) or false (F)
1. RJR Nabisco has three alternatives for manufacturing snack foods: • Option 1: Manufacture cookies alone and obtain a profit of $30 million. • Option 2: Manufacture chips alone and obtain a profit of $25 million. • Option 3: Manufacture both cookies and chips and obtain a profit of $35 million. Given the information above, the opportunity cost of this firm is $30 million. 2. The number of U.S. farms is on the order of 4 million at present. 3. The value of any index for the reference or base year is always 1.
All of the following are economic implications of the 1995-2012 rise in the average rate of productivity growth except:
A. a lower natural rate of unemployment. B. larger outward shifts of the economy's production possibilities curve. C. an end to the business cycle. D. a greater rate of economic growth.