Mr. Scrooge owns assets worth $100 million. The rate of return on his assets is 5 percent per year. Mr. Scrooge's wealth is ________, and his income is ________
A) $5 million a year; $100 million
B) $100 million; $5 million a year
C) $100 million; $105 million
D) $5 million a year; $100 million a year
B
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Sustained growth refers to a growth process:
A) where growth in GDP per capita is attributed primarily to public sector firms and enterprises. B) where GDP per capita grows at a positive and steady rate for long periods of time. C) where growth in GDP per capita is translated into equal increase in welfare for all citizens in the country. D) where GDP per capita grows at a rate of more than 20% per year for long periods of time.
In the late 1990s, the U.S. federal government had a budget surplus. If there is no Ricardo-Barro effect, these surpluses ________ the supply of loanable funds and ________ the real interest rate
A) increased; lowered B) decreased; lowered C) increased; raised D) decreased; raised E) did not change; did not change
If by purchasing a little more milk and a little less ice cream you could increase your total utility,
a. the MU of milk must be greater than that of ice cream b. the MU of ice cream must be greater than that of milk c. the MU/P of milk must be greater than that of ice cream d. milk must be cheaper than ice cream e. the MU of milk will increase
The national debt
A. Equals the dollar amount of outstanding U.S. Treasury bonds. B. Will be paid off when the budget is finally balanced. C. Is paid off each fiscal year when the debt is refinanced. D. Will never be paid off in any given year, but it will be entirely paid off when it is refinanced over a number of years.