When the nominal interest rate rises, the opportunity cost of holding money
A) rises and people hold more money.
B) falls and people hold less money.
C) falls and people hold more money.
D) rises and people hold less money.
D
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Which of the following is likely to affect the position and shape of society's production possibilities frontier?
a. volume of physical resources b. level of labor skills c. level of technology d. amount of factories on hand e. All of the above are correct.
An example of physical capital is:
A. a tractor. B. a high-yield seed varietal. C. a farmer. D. All of these are examples of physical capital.
At the natural rate of unemployment, frictional unemployment is zero.
Answer the following statement true (T) or false (F)
Ignoring all other goods, if Yong's marginal utility per pound of bread is 10 utils and per pound of cheese is 30 utils, his
a. total utility would be maximized if the price per pound of cheese is triple the price per pound of bread b. total utility could be increased by buying more bread and less cheese c. total utility could be increased by buying more cheese and less bread d. total utility would be maximized if the price per pound of cheese is one-third the price per pound of bread e. marginal utility would be maximized if the price per pound of cheese is one-third the price per pound of bread