Which of the following statements is false?
A. The national debt is the sum of our deficits minus surpluses from George Washington's administration to the present.
B. Half of the publicly held national debt is foreign owned.
C. The national debt will have to be paid off eventually or the country will go bankrupt.
D. Balancing the federal budget during a depression will make the depression worse.
C. The national debt will have to be paid off eventually or the country will go bankrupt.
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Use the following table to answer the next question. The base year is 2007. YearHot DogsBaseballsBottles of Beer?PriceQuantityPriceQuantityPriceQuantity2005$2.50100$2.5050$1.0010020064.001005.001002.0015020075.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250Calculate the percentage change in prices from 2007 to 2009.
A. 175% B. 200% C. 150% D. 100%
Employees at the university have negotiated a 5 percent increase in wages for the next year, based on their inflation expectations. If inflation is actually 4 percent over the next year, which of the following will occur?
A) Unemployment of university employees will fall. B) The decrease in inflation is expected. C) Real wages for university employees will rise. D) Inflation will be 5 percent the following year.
Which of the following is an example of a depreciation payment?
a. Zoom, Inc. set aside an allowance of $500,000 to eventually replace their jet ski factory. b. CleanPrint, Inc. paid $1 million to restock its supply of printing cartridges. c. TotalOffice, Inc. receives $50,000 per month for renting an office space. d. FirstStart, Inc. receives $500,000 in profit for last year for management consulting.
For a monopolist, the marginal revenue gained when one more unit of output is sold is
A. the average revenue created by the increased sales. B. negative if price is above the midpoint of the demand curve. C. equal to the price of the product. D. the price at which the extra unit is sold minus the loss in revenue that results from cutting the price on units sold previously.