________ is defined as the value of a household's assets minus the value of its liabilities
A) Personal household consumption B) Planned household investment
C) Household income D) Household wealth
D
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Compounding is:
A. the process of accumulation of additional interest paid on interest that has already been earned. B. the process of adding the percentage of interest times your initial principal yearly. C. the process of deposits steadily increasing a set amount annually. D. None of these statements is true.
Why do economists study sports teams when looking for evidence of labor-market discrimination?
a. because the salaries paid to professional athletes exhibit the superstar phenomenon, which is highly correlated with discrimination b. because all four United States professional sports leagues (football, basketball, hockey, and baseball) require discrimination studies every five years c. because nonwhites comprise a majority of starters for many professional sports teams d. because the wide availability of performance statistics allows economists to control for individual player productivity in ways that are difficult to do for other types of firms
An individual is endowed with $100 of income in period 1, and will receive an income of 121 in period 2. The interest rate is 10%, and there are only 2 periods. The maximum second period consumption is
a) 100 b) 121 c) 221 d) 231 e) 233.1
Refer to the data provided in Table 10.3 below to answer the following question(s).
Table 10.3 
Refer to Table 10.3. Diminishing returns to labor start with the ________ worker.
A. second B. third C. fourth D. fifth