Since 1900, real GDP per capita has ________ and this measure ________ the actual growth in standards of living in the United States over this time
A) increased; understates
B) increased; overstates
C) decreased; understates
D) decreased; overstates
Answer: A
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Refer to the Article Summary. Assuming the findings are correct and all else equal, people who do not shop at Trader Joe's can still benefit from living near the store, as is shown by the higher home values. As a result, the marginal social benefit from living near a Trader Joe's is ________ the marginal private benefit to those who shop at Trader Joe's.
A) less than B) equal to C) greater than D) unrelated to
The rate of time preference is positive
a. only when interest rates are positive b. because interest rates are positive c. only when people save d. because people save e. because people prefer goods now to the same goods later
Which of the policies of the U.S. Federal Reserve would most closely match the monetary policy most often used by the ECB?
A) open-market operations B) discount policy C) margin requirements D) reserve requirements changes
A company's extraction cost curve slopes upward to reflect:
A. that marginal extraction costs increase as the company extracts more of the resource. B. that user costs rise as the company extracts more of the resource. C. that the price of the nonrenewable resource increases as the amount extracted increases. D. all of these.