The time value of money is
A. the opportunity cost of not having your money.
B. also known as the credit score.
C. the benefit of borrowing money.
D. also known as price appreciation.
Answer: A
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Use the figure below to answer the following question.
If the output level is Q1, then there is missing surplus indicated by the area
A. 0abe. B. ecf. C. 0eQ1. D. bce.
Refer to the table above. The nominal value of the minimum wage in 2011 was
A) $2.00 per hour. B) $3.63 per hour. C) $5.62 per hour. D) $7.25 per hour.
When demand for a product increases but the supply of the product remains unchanged, the equilibrium price of the product will
a. rise and equilibrium quantity will decrease. b. fall. c. first fall and then return to the original level. d. rise, and equilibrium quantity will increase.
Which of the following is a false statement about education in the HPAE?
A) An emphasis on state funding of advanced degree programs, such as engineering and computer science, increased manufacturing production significantly. B) Literacy rates rose dramatically in the HPAE and laid a foundation for a skilled labor force. C) As the average educational level rose, workers could take on more technological, sophisticated production, pushing new investment into product lines. D) Spending was focused on the primary and secondary level, where it has the greatest social impact.