Referring to a production possibilities curve and the goods being compared, depict the economic event. The literacy rate increases among workers (capital goods vs. consumer goods).
A. A movement from a point inside the curve to a point on the curve
B. A movement from a point on the curve to a point inside the curve
C. A shift in the entire curve to the right (outward)
D. A shift in the entire curve to the left (inward)
C. A shift in the entire curve to the right (outward)
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An increase in the foreign real interest rate will tend to cause, other things the same ________
A) individuals to hold fewer dollar assets B) an increase in the return on dollar assets relative to foreign assets C) an appreciation in the value of the U.S. dollar D) an increase in the demand for dollars
What is the inflation rate using base year 1?
A) 10%. B) 15%. C) 20%. D) 25%.
Refer to Table 5.4. If outcomes 1 and 2 are equally likely at Job A, and if at Job B the $20 outcome occurs with probability .1, and the $50 outcome occurs with probability .9, then
A) Job A is safer because the difference in the probabilities is lower. B) Job A is riskier only because the expected value is lower. C) Job A is riskier because the standard deviation is higher. D) Job B is riskier because the difference in the probabilities is higher. E) There is no definite way given this information to tell how risky the two jobs are.
You believe the dollars you have today will be accepted in the future in exchange for goods and services. Which function of money does this illustrate?