Probably the best measure of a country's economic growth is the growth of
A) real domestic investment.
B) real GDP.
C) real GDP per person.
D) real consumption expenditures.
C
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If a business firm operates indefinitely without covering any of its sunk costs, what happens to the firm's sunk costs?
A) Nothing happens to them; they have ceased to exist. B) They are distributed across the whole economy. C) They continue unpaid for as long as the firm fails to make a profit large enough to cover them. D) They reduce the wealth of the investors who risked their wealth to make mistaken decisions possible.
According to critics of new Keynesian economics, it is doubtful that
a. menu costs are very important in the real world. b. efficiency wage considerations play an important role in the real world. c. bargaining models are of significance in the real world. d. All of the above e. None of the above
The opportunity cost of attending a college basketball game tonight would increase if: a. Your friend offers to pay you more for your ticket, because he really wants to go
b. Your favorite player on the teams is injured and will not play tonight. c. Your economics TA decides to offer a review session, for which attendance will count 10% of your course grade, at the same time as the game d. Either a. or c. occurs
If the marginal propensity to consume is 0.8, and aggregate expenditure initially increases by $100 million, then the aggregate demand curve will shift outwards by $500 million, holding the price level constant
Indicate whether the statement is true or false