Which can be negative?
A. only the nominal rate of interest
B. only the real rate of interest
C. both the nominal and real rates of interest
D. neither the nominal nor the real rate of interest
B. only the real rate of interest
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Between 1950 and 2015 the productivity of wheat farmers in the United States more than doubled. This means that
A) the total amount of wheat produced more than doubled. B) the amount of land and other resources devoted to wheat production more than doubled. C) the amount of wheat produced by the average farmer more than doubled. D) the incomes of wheat farmers more than doubled.
The process of using resources to produce ________ is known as investment.
A. profit B. money C. new capital D. inputs
A monopoly earns total revenue of $20,000 when it sells 200 units of output and total revenue of $22,000 when it sells 240 units of output. Thus, the marginal revenue of the 240th unit is $91.67.
Answer the following statement true (T) or false (F)
An insurance company finds that it insured an adverse selection of largely ill patients. It is forced to increase insurance premiums to reduce losses. How does this aggravate the adverse selection problem?