Which of the following is closest to the future value of an $800,000 deposit earning 2 percent interest annually after 20 years?
A. $1,188,758
B. $1,120,262
C. $1,176,224
D. $1,201,204
Answer: A
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
If a demand curve is unit elastic, then P times Q will remain constant when P changes
a. True b. False Indicate whether the statement is true or false
Which of the following economists believed that the factory owner, by paying his workers meager wages, was able to use this surplus to buy more capital goods?
A. Adam Smith B. Thorstein Veblen C. Milton Friedman D. Karl Marx
Refer to the information provided in Figure 1.7 below to answer the question(s) that follow.
Figure 1.7Refer to Figure 1.7. The slope of the line between Points D and B is
A. 1.5. B. 0.67. C. -0.67. D. -1.5.