If you put $1,000 in a savings account at an interest rate of 10 percent, how much money will you have in one year?
A. $909
B. $950
C. $1,200
D. $1,100
Answer: D
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Points inside a production possibilities curve are ________ and ________
A) efficient; unattainable B) inefficient; unattainable C) efficient; attainable D) inefficient; attainable
About what percentage of the goods and services purchased by U.S. consumers, businesses, and governments in 2012 were produced by foreigners?
A) 5% B) 14% C) 18% D) 40%
An example of an intermediate good or service would be:
A. sacks of groceries bought by a dentist for his family. B. a car bought by a stockbroker for commuting to work. C. a desk bought by an accountant for her office. D. bricks bought by a homeowner for constructing a patio.
An efficiency wage is:
A. a below-market wage. B. an above-market wage. C. a "wage" that contains a profit-sharing component. D. a wage that is free to rise or fall from day to day, depending on labor supply and demand.