Which of the following institutions is eligible to borrow from the Federal Reserve at the discount rate?
A) Property and casualty insurance companies
B) Money market mutual funds
C) Credit unions
D) Investment banks
C
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If the level of technology rises, GDP per hour of labor
A) decreases for a given level of capital per hour of labor. B) increases for any level of capital per hour of labor. C) decreases because the level of capital per hour of labor decreases. D) increases because the level of capital per hour of labor increases. E) does not change because GDP increases only when capital or labor increases.
What is the effect on real GDP per person if labor productivity increases? What is the effect on the nation's standard of living?
What will be an ideal response?
Price elasticity of demand refers to the:
a. percentage increase in price in response to a percentage increase in quantity demanded. b. percentage decrease in price in response to a percentage increase in income. c. minimum amount that consumers will pay for a percentage change in quantity demanded or supplied. d. responsiveness of quantity demanded to a change in the price of a good.
The marginal benefit to you of drinking one more bottled iced tea is $1.50 . The price of a bottle of iced tea is $1.25. a. If you purchase iced tea you will suffer a net loss of 25 cents per bottle
b. If you purchase a bottle of iced tea, the net gain to you from doing so is 25 cents. c. You will not purchase iced tea if you are acting rationally. d. If you are acting rationally, you will purchase iced tea until the marginal benefit falls to 25 cents.