Between the second quarter of 2006 and the first quarter of 2009, the value of housing wealth decreased by about $7 trillion.
Answer the following statement true (T) or false (F)
True
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Whether a dominant strategy is an optimal strategy for a firm depends upon the actions of competitors
a. True b. False Indicate whether the statement is true or false
Which of the following quotations best captures the idea of opportunity cost?
a. "Opportunity knocks but once." b. "Every choice involves a sacrifice." c. "Let's not ask for the moon; we have the stars." d. "Fools rush in where wise men fear to tread." e. "All that glitters is not gold."
If the spending multiplier is 1.2, then a $100 billion increase in government spending will increase GDP by
A. $83.3 billion. B. $120 billion. C. $12 billion. D. $220 billion.
Refer to the table above. If the price of a chair increases to $15, and the rental price of machines is $90 per day, up to how many machines should the firm rent to maximize profits?
A) 1 B) 3 C) 5 D) 6