Which of the following is a negative effect of economic growth?
A. higher inflation
B. environmental pollution
C. higher unemployment
D. all of these
Answer: B
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The total value of government bonds outstanding at any particular time is called the
A) government debt. B) government deficit. C) seignorage revenue. D) yield curve.
The present discounted value of R dollars to be paid in t years is
A. the future market value of receiving R dollars in t years. B. the amount you will have to save in the future to allow you to consume R dollars today. C. the amount you have to put aside now if you want to ensure that you end up with R dollars t years from now. D. equal to R × t years.
Which type of cost is does not change as the quantity of output produced changes?
A) total cost B) average cost C) fixed cost D) marginal cost
Diminishing marginal utility suggests that
a. more is always preferred to less. b. the well-being of society is maximized when the distribution of income is equal. c. the poor are less efficient at spending money than the rich. d. the poor receive more satisfaction from the last dollar spent than the rich.