In economics, "National Saving" is calculated by
What will be an ideal response?
Subtracting private and government consumption from total income.
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Individuals are forced to make choices because
a. wants are unlimited. b. the supply of resources is infinite. c. wants are unlimited and resources are scarce. d. resources exceed wants.
A firm has $350 million in revenues and explicit costs of $150 million. If its owners have invested $150 million in the company at an opportunity cost of 10 percent a year, the firm's economic profit is: a. $50 million
b. $150 million. c. $185 million. d. $200 million.
The aggregate supply curve relating the price level to real GDP has three distinguishing segments. Which one of the following indicates the segments? a. The horizontal segment reflects the increasing pressure on the price level as firms bid for resources. The upward-sloping segment reflects the availability of unusedresources. The vertical segment reflects the full employment of all resources
b. The horizontal segment reflects the availability of unused resources. The upward-sloping segment reflects the full employment of all resources. The vertical segmentreflects the increasing pressure on the price level as firms bid for resources. c. The horizontal segment reflects the full employment of all resources. The upward-sloping segment reflects the increasing pressure on the price level as firms bid forresources. The vertical segment reflects the availability of unused resources. d. The horizontal segment reflects the availability of unused resources. The downward-sloping segment reflects decreasing pressure on the price level as firms bid forresources. The vertical segment reflects the full employment of all resources. e. The horizontal segment reflects the availability of unused resources. The upward-sloping segment reflects increasing pressure on the price level as firms bid forresources. The vertical segment reflects the full employment of all resources.
What is the effect on the rate of inflation of the Federal Reserve printing large quantities of currency?
A. increases the rate. B. has no effect on rate. C. decreases the rate.