Inflation is
A. generally steady from year to year.
B. generally beneficial to countries.
C. one of the key measures in the GDP.
D. one of the key measures of the health of an economy.
Answer: D
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According to the new growth theory, economic growth will continue with
A) an increased focus on labor-intensive jobs. B) increases in population growth. C) the development of new ideas. D) increases in interest rates.
Veruca sells therapeutic bath salts on the Internet. Her annual revenue is $52,000 per year, the explicit costs of her business are $14,000, and the opportunity costs of her business are $17,000 per year. What is her accounting profit?
A) $14,000 B) $21,000 C) $31,000 D) $38,000
If the annual interest rate is 5% (.05), the price of a six-month Treasury bill would be:
A. $97.59 B. $95.25 C. $95.00 D. $97.50
Answer the following questions true (T) or false (F)
1. A university must decide if it should stop offering foreign language classes. This decision involves answering the economic question of "how to produce." 2. In market economies, income distribution is always going to be completely equitable. 3. "An increase in the price of gasoline will increase the demand for hybrid vehicles." This statement is an example of a positive economic statement.