A country's level of well being is determined primarily by its level of
a. population growth.
b. educational attainment.
c. capital stock growth.
d. natural resource growth.
c
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If the First National Bank has a gap equal to a negative $30 million, then a 5 percentage point increase in interest rates will cause profits to
A) increase by $15 million. B) increase by $1.5 million. C) decline by $15 million. D) decline by $1.5 million.
During the postwar period, the portion of total employment declined in the ______ sector
a. agricultural b. manufacturing c. mining d. construction e. All of the above.
According to the new classical theory, a $50 billion increase in government expenditures financed by a $50 billion increase in the budget deficit will
a. cause real output to expand $200 billion if the marginal propensity to consume is three-fourths. b. exert little impact on real output because higher real interest rates will crowd out private spending. c. stimulate aggregate demand, causing prices to rise (inflation). d. be largely offset by a reduction in private spending because individuals will anticipate higher future taxes.
Suppose that your tuition to attend college is $24,000 per year and you spend $8,000 per year on room and board. If you were working full time, you could earn $30,000 per year. What is your opportunity cost of attending college for one year?
A. $32,000 B. $38,000 C. $54,000 D. $62,000