If producers have an expectation of higher future prices, the supply of the good that is currently available
A) will be all that is produced. B) will decrease.
C) will not change. D) will increase.
B
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Transaction costs are likely to be ________ when property rights are ________ clearly defined
A) lower ; less B) higher; more C) lower; more D) Trick question: there is no causal relationship between transaction costs and property rights.
Refer to the information above. An economy's real GDP per person doubles every 18 years when it maintains a growth rate of ________ per year
A) 5.6 percent B) 4.0 percent C) 0.25 percent D) 0.9 percent
Using the Internal Rate of Return approach to investment, one would undertake an investment if the internal rate of return
A) equals zero. B) equals the interest rate. C) exceeds the interest rate. D) is less than the interest rate.
Answer the following statements true (T) or false (F)
1. Although the number of jobs requiring computer knowledge has increased, these jobs are found primarily in low-wage industries. 2. Union membership in the United States has fallen to less than 15 percent of the workforce. 3. Household wealth is defined as income minus liabilities. 4. Because their earnings are highest, married couples between the ages of 35–54 hold the largest share of wealth in the United States. 5. Non family households earn less than 50 percent of the income earned by family households.