If Emma has a positive rate of time preference, she will
a. value the receipt of $10,000 twenty years from now just as much as she would value receipt of the $10,000 now.
b. value the receipt of $10,000 twenty years from now more than she would value receipt of the $10,000 now.
c. value the receipt of $10,000 twenty years from now less than she would value receipt of the $10,000 now.
d. prefer to receive any amount of money now to the $10,000 twenty years from now.
C
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If a technological change reduced the amount of the variable input needed by a firm to produce a unit of output:
a. its AVC curve would shift down. b. its ATC curve would shift down. c. its MC curve would shift down. d. All of the above would occur.
Since 1960, total federal outlays as a share of GDP was the highest in 2008–2009
a. True b. False Indicate whether the statement is true or false
The long-run response to a decrease in the money supply growth rate is shown by shifting
a. the short-run and long-run Phillips curves left. b. the short-run and long-run Phillips curves right. c. only the short-run Phillips curve left. d. only the short-run Phillips curve right.
A majority of states have a minimum wage that is higher than the federal minimum wage.
Answer the following statement true (T) or false (F)