A World bank study conducted in Kenya found that as the proportion of vaccinated people in a village grew, more people wanted to get vaccinated.
Answer the following statement true (T) or false (F)
False
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When a student uses a credit card to buy an iPod, the student is
A) borrowing in the bond market. B) borrowing in the loan market. C) lending in the stock market. D) lending in the bond market. E) lending in the loan market.
Which of the following are two components of the opportunity cost of using capital already owned by the firm?
A) economic profit and normal profit B) implicit rental rate and economic profit C) explicit rental rate and economic costs D) economic depreciation and forgone interest
Suppose that there are two types of houses for sale: those with solid foundations and those with cracked foundations. In all other respects, the two types of houses are identical. Houses with solid foundations are worth $200,000, while those with cracked foundations are worth $200,000 minus the $20,000 to fix the crack, or $180,000. Sellers know which type of house they have, but buyers cannot detect whether the foundation has a crack. Suppose that 80 percent of the houses for sale have a solid foundation and 20 percent of the houses for sale have a cracked foundation. In the long run, we would expect:
A. 80 percent of the houses for sale to have a solid foundation, 20 percent to have a cracked foundation, and houses to sell for $196,000. B. 100 percent of the houses for sale to have a cracked foundation and to sell for more than $180,000. C. 100 percent of the houses for sale to have a solid foundation and to sell for $200,000. D. 100 percent of the houses for sale to have a cracked foundation and to sell for $180,000.
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower