According to predictions made by ________ in 1972, the collapse of the world economy will occur because of the depletion of nonrenewable resources.
A. the Club of Rome
B. the European Union
C. the World Bank
D. the Fed
Answer: A
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If Jeff's wage rate rises, he decides to work more hours. From this, we can infer that
A) for Jeff, the substitution effect is greater than the income effect. B) for Jeff, the substitution effect is equal to the income effect. C) for Jeff, the substitution effect is less than the income effect. D) Jeff is confused.
Other things the same, if reserve requirements are increased, the reserve ratio
a. increases, the money multiplier increases, and the money supply increases. b. increases, the money multiplier decreases, and the money supply decreases. c. decreases, the money multiplier increases, and the money supply increases. d. decreases, the money multiplier decreases, and the money supply increases.
Read Application 14.1 carefully. The United States compares very unfavorably to Japan in life expectancy. In the United? States, average life expectancy at birth is less than 79? years; in? Japan, life expectancy is almost 83 years.? However, the United States spends? 250% more on health care per person than Japan does. Are these numbers evidence of the superior? cost-effectiveness of the Japanese health care? system?
A. ?Yes, if the Japanese live longer and spend less on health? care, it must have a more? cost-effective health care system. B. ?Yes, the Japanese make better behavioral? choices, which implies a? better, more? cost-effective health care system. C. ?No, the U.S. obesity rate is higher than? Japan's, which can drive up health care costs and drag down life expectancy. D. ?Uncertain, as more information is required to assess the? cost-effectiveness of? Japan's health care system.
Refer to the information provided in Figure 1.2 below to answer the question(s) that follow.
Figure 1.2Refer to Figure 1.2. The slope of the line between Points A and B is
A. 0.4. B. 1.2. C. 2.5. D. indeterminate from this information.