Refer to the above table (all figures in millions). Which country experienced the greatest economic growth from 2019 to 2020?
A. A
B. B
C. C
D. D
Answer: B
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Suppose the nominal interest rate is 15% and the rate of inflation is 3%. The real interest rate is therefore
A) 3%. B) 5%. C) 12%. D) 18%.
To support the argument for an active role for government in stabilizing the economy, it must be true that
A) consumers are not rational and that not all wages and prices are flexible. B) not all wages and prices are flexible and that government must be able to react quickly enough. C) government must be able to react quickly enough and that shocks to the economy be primarily due to aggregate supply shocks. D) shocks to the economy be primarily due to aggregate supply shocks and that consumers are not rational.
Education and on-the-job training are sources of human capital
a. True b. False Indicate whether the statement is true or false
For which of the following individuals would the opportunity cost of going to college be highest?
a. a promising young mathematician who will command a high salary once she earns her college degree b. a student with average grades who has never held a job c. a famous, highly-paid actor who wants to take time away from show business to finish college and earn a degree d. a student who is the best player on his college basketball team, but who lacks the skills necessary to play professional basketball