An overall fall in prices in the economy is called:
A. deflation.
B. inflation.
C. core deflation.
D. core inflation.
Answer: A
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Which of the following is an example of an external cost?
A) a grove of trees planted in a park in Seattle B) a library built in Philadelphia C) a new, faster computer chip D) an oil spill off the coast of South America E) a student graduating from college
If the central bank of a country increases the discount rate, a commercial bank would: a. experience a decrease in its net worth
b. hold a higher level of reserves. c. take more loans from the central bank. d. make more loans with its increased loan assets.
Which of the following statements about human-brain activity is true?
A. Unconscious intuition uses the newer parts of the brain in the front part of the head B. Conscious deliberation uses the older parts of the brain in the front part of the head C. Conscious deliberation uses the newer parts of the brain in the front part of the head D. Unconscious intuition uses the older parts of the brain in the front part of the head
Aimee sells hand-embroidered dog apparel over the Internet. Her annual revenue is $128,000 per year, the explicit costs of her business are $42,000, and the opportunity costs of her business are $30,000
What are the implicit costs of her business? A) $12,000 B) $30,000 C) $72,000 D) $86,000