Which of the lines represent the structural stagnation's assumption about trend growth?
A. 3 percent trend
B. 2.25 percent trend
C. Actual
D. It is not represented
Answer: B
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Suppose the market price of zinc doubles. Which of the following scenarios is most likely?
A) The demand for zinc miners will increase, raising the market wage rate. B) The demand for zinc miners will decrease, reducing the market wage rate. C) The demand for zinc will increase, raising the market price further. D) The demand for zinc miners will decrease, reducing the market price back to its original price.
If people refused to use banks to create checkable deposits, the banking system would:
a. not be affected in the money creating process. b. not have a way to loan out excess reserves. c. be able to expand the money supply by more than the money multiplier indicates. d. not be able to create new money. e. not be able to find new borrowers.
The substitution effect of a price change is depicted by a
a. movement along the budget constraint holding satisfaction constant. b. shift in the budget constraint at the old prices. c. movement along the consumer's new indifference curve at the new prices. d. movement along the original indifference curve to the point where the marginal rate of substitution equals the price ratio for the new set of prices.
Hailey has decided to eat lunch between classes. She has ranked her choices, from highest to lowest as, (1) turkey sandwich, (2) tuna sandwich, (3) slice of cheese pizza, (4) fish taco. The opportunity cost of the eating turkey sandwich is
A. the combined value of the tuna sandwich, cheese pizza and fish taco. B. zero since she has satisfied a want. C. the value of the fish taco. D. the value of tuna sandwich, the next best choice.