Which of the following would cause GDP to overstate the growth in economic well-being over the past 50 years?
A. Increase in leisure time
B. Increase in the employment of married women
C. Decrease in the employment of maids and housekeepers
D. All of the choices are true
B. Increase in the employment of married women
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Which of the following decreases the demand for loanable funds and shifts the demand for loanable funds curve leftward?
A) The real interest rate rises. B) The economy experiences a recession. C) Wealth decreases. D) Technology that increases productivity is introduced. E) An economy experiences a rapid increase in population.
A currency drain ________ the amount of bank reserves available to banks to make loans because ________
A) reduces; people are holding more money outside of the banks B) increases; people are holding less money outside of the banks C) reduces; people are holding less money outside of the banks D) reduces the monetary base; people are holding more money outside of the banks E) reduces; people are holding onto the money the banks could have borrowed from the Fed
Assume that a single insurance plan applies to 2,000 low-risk people and 1,000 high-risk people opting for insurance coverage. If the average claim submitted by low-risk people is $100 while that submitted by high-risk people was $1,000 . the insurer would break even by setting a premium of:
a. $250. b. $400. c. $200. d. $500.
Which of the following is true of the production possibilities curve?
What will be an ideal response?