Your willingness to pay additional money for time-saving goods depends primarily on
a. the opportunity cost of your time
b. your wealth and property
c. your social status
d. the number of people in your household
e. the distance between your home and your workplace
A
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If two goods are substitutes, the cross-price elasticity of demand must be
A) negative. B) positive. C) zero. D) infinite.
Assume that the government increases spending and finances the expenditures by borrowing in the domestic capital markets. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the real GDP and net nonreserve-related international borrowing/lending in the context of the Three-Sector-Model?
a. There is not enough information to determine what happens to these two macroeconomic variables. b. Real GDP rises, and net nonreserve-related international borrowing/lending becomes more positive (or less negative). c. Real GDP rises, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). d. Real GDP falls, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). e. Real GDP and net nonreserve-related international borrowing/lending remain the same.
If the marginal propensity to consume (MPC) is 0.75, and if the goal is to increase real GDP by $400 million, then by how much would government spending have to change to generate this increase in real GDP?
A. $140 million. B. $100 million. C. $200 million. D. $400 million.
Which of the following is true of coinsurance?
A) The policyholders do not have to pay a premium. B) Each policyholder has to pay a certain fee while making claims. C) The responsibility of paying claims is split between the insurer and the policyholder. D) All policyholders pay the same premium irrespective of the scheme they chose.