In the open-economy macroeconomic model, the source of the supply of loanable funds is
a. personal saving
b. public saving
c. public saving + personal saving
d. public saving + personal saving + net capital outflows
c
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The owner of a pizza shop observes that when she raises the price of a large pizza, her total revenue decreases, and when she lowers the price of a large pizza, her total revenue increases. This suggests that:
A. the demand for her large pizzas is inelastic with respect to price. B. there are few good substitutes for a large pizza. C. the demand for her large pizzas is elastic with respect to price. D. pizza lovers act irrationally.
A firm will keep hiring more workers until the MRP of the last worker hired is equal to the ___________.
Fill in the blank(s) with the appropriate word(s).
A typical professional National Football League team has three quarterbacks on its roster. What is one reason why they might not have a fourth quarterback?
A) The fourth quarterback's marginal product is approximately zero. B) The fourth quarterback's marginal product is approximately ten. C) The fourth quarterback's marginal product is less than the first quarterback's marginal product. D) There is a law against carrying four quarterbacks on a team.
By value, a majority of the assets held by the Fed is in gold.
Answer the following statement true (T) or false (F)