If a savings account pays 5 percent annual interest, then the rule of 70 tells us that the account value will double in approximately 14 years
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is NOT considered a payment in the balance of payments?
A) capital outflows B) U.S. foreign aid to other countries C) imports of goods D) exports of services
Zachary spends his day studying for a total of four hours and exercising for one hour. Using the concept of utility to explain his choices, we can say
A. the marginal utility of studying for a fifth hour will be negative. B. the marginal utility from studying for a fifth hour is less than the marginal utility from the first hour of exercise. C. the total utility gained from exercising for one hour is greater than the total utility from studying for four hours. D. the marginal utility of exercising for the first hour was greater than the marginal utility of studying for the first hour.
Refer to the three demand curves for coffee. Which of the following would shift the demand for coffee from D1 to D3?
A. an increase in the number of buyers of coffee B. an expected decrease in the price of coffee in the future C. a decrease in the price of coffee D. an increase in income if coffee is a normal good
A downward-sloping line that makes a 45-degree angle with the horizontal and vertical axes has a slope of:
A. infinity. B. zero. C. 1. D. -1.