Economic explanations of consumer behavior take into consideration
A. Prices and income.
B. Ego gratification.
C. Lack of self-confidence.
D. Social status.
Answer: A
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From the very beginning of our republic through the 19th century, the overriding and chronic problem we faced was too little currency
Indicate whether the statement is true or false
In the long run, which of the following is likely to be a variable cost?
A. Wage costs but not costs for equipment. B. Rent, wages, and all other costs are variable in the long run. C. Factory rental but not wage costs. D. Interest payments on borrowed funds but not utilities.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30 B. exactly 60 C. fewer than 30 D. more than 30
If nominal GDP for 2012 is $6400 billion and real GDP for 2013 is $6720 billion (in 2012 dollars), then the growth rate of real GDP is
A. 50%. B. 0.5%. C. 0%. D. 5%.