What is the annual rate of economic growth in Japan if real GDP at the beginning of the year is 11.9 trillion yen and real GDP at the end of the year is 11.1 trillion yen?
a. 0.65%
b. -6.7%
c. 1.9%
d. 0.008%
e. -6.25%
b
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Prices communicate information about the relative value of resources in the marketplace. Which of the following would cause the marginal value and, hence, the price, of oranges to rise?
a. A freeze wipes out half of the Florida citrus groves. b. Orange juice is shown to reduce blood cholesterol levels. c. The price of grape, cranberry, and pineapple juice falls dramatically.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point F
A. is efficient and attainable. B. cannot be produced with the current state of technology. C. represents underallocation of resources. D. represents what the people want.
Describe “bank runs.” How can “bank runs” be avoided?
What will be an ideal response?
Which of the following are NOT contractual savings institutions?
A) life insurance companies B) credit unions C) pension funds D) state and local government retirement funds