The concept of opportunity cost exists because
A) of scarcity.
B) goods have different prices.
C) of shortages.
D) the value of services is hard to determine.
A
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Based on the data in the table above, ice cream and cake are ________ goods
A) inferior B) normal C) substitute D) complementary E) Both answers B and D are correct.
When one compares per-capital output growth rates among countries
A) one needs to correct the data to account for departures from purchasing power parity. B) such corrections are often not necessary. C) such corrections are sometimes necessary. D) the evidence whether such corrections are necessary are vague. E) such corrections are not necessary.
Which of the following is NOT a discount bond?
A) a U.S. savings bond B) a U.S. Treasury bill C) a U.S. Treasury note D) a zero-coupon bond
Graphically illustrate and explain the effects of an increase in the saving rate on the Solow growth model. In your graph, clearly label all curves and equilibria
What will be an ideal response?