Say you had an 8 A.M. economics class, and you only come to campus to attend your economics class. The cost of coming to the economics class would then include:
a. the value of the time it took to drive to campus.
b. the cost of the gasoline it took to get to campus.
c. the cost of insuring the car for that day
d. a. and b.
d
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Summarize the debate over the interrelationship between inequality and growth. What kinds of inequality are most crucial to the discussion?
What will be an ideal response?
If a $100 billion increase in government spending results in a $500 billion increase in real GDP, then the value of the multiplier:
A. equals 0.2. B. equals 5. C. equals $400 billion. D. cannot be determined.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The economy is currently at Point A. The opportunity cost of moving from Point A to Point B is the
A. 30 LCD televisions that must be forgone to produce 60 additional OLED televisions. B. 90 LCD televisions that must be forgone to produce 20 additional OLED televisions. C. 30 LCD televisions that must be forgone to produce 20 additional OLED televisions. D. 120 LCD televisions that must be forgone to produce 40 additional OLED televisions.
The balance sheet below is for the First Federal Bank. Assume the required reserve ratio is 20 percent.
Refer to the above information. This bank can safely expand its loans by a maximum of:
A. $20,000
B. $40,000
C. $100,000
D. $200,000