When someone receives a gift that they don't want:
A. it is impossible to determine the cost or value of the gift.
B. the cost and value of the gift are both equal to zero.
C. the cost of the gift is less than the value.
D. the value of the gift is less than the cost.
Ans: D. the value of the gift is less than the cost.
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If the Habakkuk thesis had been correct—unamended by Rosenberg, David and others—a long-run decline in the supply of agricultural productivity west of the Appalachians would be matched by a proportional
(a) decline in the productivity growth in eastern manufacturing. (b) increase in productivity in eastern manufacturing. (c) rise in American food imports. (d) rise in American exports of manufacturing.
Which of the following statements is true?
a. Natural resources per worker influence productivity only when those natural resources are renewable. b. The prices of most natural resources are stable or falling relative to other prices. c. Technology requires greater use of natural resources. d. The terms human capital and technological knowledge are used interchangeably.
Using the above table, the Personal Income (PI) for the country is
A. 84. B. 155. C. 306. D. 228.
Assuming a market rate of interest equal to 7 percent and anticipated inflation is 2 percent, what is the real (adjusted for inflation) present value of $200 to be received one year from today?
A. $187 B. $210 C. $190 D. $214