When you are calculating how long it will take your initial bank deposit to double, the rule of 72 prescribes that you divide the annual interest rate paid on the deposit by 72
a. True
b. False
Indicate whether the statement is true or false
False
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If aggregate planned expenditure exceeds real GDP, then
A) unplanned inventory changes are positive. B) real GDP will decrease. C) aggregate planned expenditure must decrease to restore the equilibrium. D) planned inventory changes must be negative. E) unplanned inventory changes are negative.
As applied to voter behavior, the "rational ignorance" hypothesis claims
A) voters will have no incentive to be informed of political issues. B) voters will stop gathering information once the marginal costs exceed the marginal benefits. C) voters only vote on the basis of their instinctual or gut feelings. D) voters are selfish.
Economic growth can be represented by
A) a movement down the production possibilities frontier (PPF). B) a movement up the production possibilities frontier (PPF). C) an inward shift of the production possibilities frontier (PPF). D) an outward shift of the production possibilities frontier (PPF).
In 2014, real GDP per person in Bangladesh was
a. about 3 times as high as it was in the U.S. in 1870. b. about twice as high as it was in the U.S. in 1870. c. about the same as it was in the U.S. in 1870. d. less than it was in the U.S. in 1870.