Who said this: "The most hated sort, with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural objects of it. For money was intended to be used in exchange, but not to increase at interest…of all modes of getting wealth this is the most unnatural."
A. Aristotle
B. Moses
C. Benjamin Franklin
D. Frank Knight
A. Aristotle
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Suppose Ann can produce 8 units of a material good (M) or 4 units of a spiritual good (S) in a day, while Ben can produce only 3 Ms or 3 Ss in a day. Which statement below is true?
A) Ann is the most efficient producer of spiritual goods. B) Ann is the most efficient producer of material goods. C) Ben is the least efficient producer of spiritual goods. D) All of the above are true.
A practice which might force employers to use more labor than they would otherwise is referred to as
A) wall propping. B) featherbedding. C) mothballing. D) yellow-dogging.
The possibility of the endless cyclical preference is eliminated by the property of:
A. transitivity. B. more and better. C. diminishing marginal rate of substitution. D. completeness.
Economists observed the following growth rates in the fourth quarter of 1995: real GDP = 2.8 percent; M1 = 7.8 percent; GDP deflator = 2.2 percent. Given this data, the growth of nominal GDP was approximately
A. 12.8 percent. B. 10.0 percent. C. 5.6 percent. D. 5.0 percent. E. 0.6 percent.