In the Solow model, if k = 8, y = 24, and s = 0.25, what is c?
A) 24
B) 20
C) 18
D) 12
C
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Steve has two goods he can spend his income on, skiing and skating, and his marginal utilities from each are in the table above. The price of each unit of skiing is $10 and the price of each unit of skating is $5. Steve has $40 to spend
What quantities of skiing and skating should Steve consume to maximize his utility? A) 4 units of skiing and 4 units of skating B) 2 units of skiing and 4 units of skating C) 1 unit of skiing and 2 units of skating D) 5 units of skiing and 5 units of skating
The implicit cost incurred by a firm to use its resources to produce its output is the firm's
A) total cost. B) explicit cost. C) opportunity cost. D) accounting cost.
Because the Soviet Union educated more scientists and engineers than the United States, their level of economic growth was higher
a. True b. False Indicate whether the statement is true or false
The World Bank specializes in making loans to
A. industrialized nations. B. communist nations. C. African nations. D. developing nations.