If an economy produced 60 pounds of sushi at $12 per pound and 15 gallons of sake at $30 per gallon, the total value of these goods and services would be:
A. $450.
B. $720.
C. $1,170.
D. $2,700.
Answer: C
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Four stores have a problem with theft and security is a public good. Let S stand for the number of person-hours of security patrols per week. The marginal benefit of security patrols to each of the stores is given by the formula MB = 200 - 2S. Patrols cost $20 per hour. Which of the following gives the marginal social benefit function?
A. MSB = 50 - 0.5S B. MSB = 800 - 8S C. MSB = 800 - 2S D. MSB = 196 - 2S
M3 is an example of a Federal Reserve
A) directive. B) tool. C) intermediate target. D) operating target.
An industry with a Herfindahl-Hirschman index of 1,000 would have ____ firm(s).
A. 1 B. 10 C. 100 D. 1,000
If the nominal interest rate 8% and expected inflation 3%, the expected real interest rate in year t is approximately
A) 2%. B) 3%. C) 5%. D) 8%. E) 11%.