What explains the rise in income in the U.S. between 1900 and 2013?
A) business cycles
B) inflation
C) recessions
D) depressions
E) none of the above
E
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The table above shows a nation's production possibilities frontier. The opportunity cost of a robot between combination D and E is
A) 1/4 of a pizza. B) 34 pizzas. C) 30 pizzas. D) 4 pizzas. E) undefined because neither point is production efficient.
In a(n) __________ insurance policy, there is no savings component
A) whole B) term C) universal D) variable
A firm sees its marginal revenue increase by $20 and marginal cost increase by $15 when it produces its 1000th product. This implies
a. the production of the 1000th unit of output increases the firm's profit by $5. b. The firm is past its profit maximizing output c. We cannot say much on the profitability of the firm d. Producing the 1000th item will in fact decrease the overall firm's profits.
For a given real interest rate, an increase in the inflation rate reduces the after-tax real interest rate
a. True b. False Indicate whether the statement is true or false