Refer to the table shown. In trillions of dollarsConsumption3.5Investment1.2Government Purchases1.8Exports0.6Imports0.4What is the economy's GDP?
A. $7.1 trillion
B. $6.7 trillion
C. $6.5 trillion
D. $6.1 trillion
Answer: B
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A worker can begin receiving benefits as early as age 58.
A. True B. False C. Uncertain
With no inflation, a bank would be willing to lend a small business firm $5 million at an annual interest rate of 3 percent. But, if the rate of inflation was anticipated to be 4 percent, the bank would charge the firm an annual interest rate of:
A. 7 percent. B. 3 percent. C. 4 percent. D. 10 percent.
Poverty is
A. an absolute, not a relative concept. B. a relative concept, not an absolute. C. both an absolute and a relative concept. D. neither an absolute nor a relative concept.
Assume the total product of two workers is 130 and the total product of three workers is 150. The average product of three workers is ________, and the marginal product of the third worker is ________.
A. 40; 10 B. 120; 100 C. 13.33; 6.67 D. 50; 20