Assuming no bequests, with a real interest rate of 10 percent, wealth of $60,000, current income of $70,000, current consumption of $30,000 and future income of $100,000, future consumption equals ________
A) $30,000
B) $70,000
C) $100,000
D) $210,000
D
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The above figure shows the U.S. market for flip-flops. With international trade, the equilibrium price in the United States is ________ and the United States ________ flip-flops
A) $12; imports B) $12; does not trade C) $12; exports D) $14; imports E) $14; does not trade
If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the labor force is
A) 1000. B) 1100. C) 1400. D) 1500.
Using a graph, show and explain the difference between an anticipated and an unanticipated increase in aggregate demand
What will be an ideal response?
When nations specialize according to their comparative advantage
A. Consumption rises in one country but must fall in all others. B. Total production and consumption in the world increase. C. Total world production rises but total consumption in the world declines. D. none of these