When interest rates in the U.S. increase, we could expect:
A. less foreigners investing in U.S. assets.
B. more foreigners investing in U.S. assets.
C. more U.S. citizens investing abroad.
D. less U.S. citizens investing in U.S. assets.
Answer: B
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Conventional economic theory assumes that people
a. care a great deal about fairness. b. are inconsistent over time in their decisionmaking. c. are rational. d. are satisficers.
Refer to the accompanying figure. The opportunity cost of producing one bushel of wheat is:
A. 500 bushels of corn. B. ½ of a bushel of corn. C. 1,000 bushels of corn. D. 2 bushels of corn.
If, in the long run, people adjust their price expectation so that all prices and incomes move proportionately to an increase in the price level, then the long-run Phillips curve is vertical.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 13.6 below to answer the question that follows.
Figure 13.6 Refer to Figure 13.6. The Memory Company's ________ level of output is 200 high school yearbooks.
A. shut down B. profit-maximizing C. loss-maximizing D. break-even