Refer to Table 2-8. What is Wilma's opportunity cost of making a statue?
A) 1/3 of a bench B) 6/7 of a statue C) 1/2 of a bench D) 3 benches
A
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In the above figure, at what minimum wage is the unemployment level equal to 200 million hours?
A) $2 per hour B) $4 per hour C) $6 per hour D) $8 per hour
Which of the following would increase GDP?
a. You buy 100 shares of Wal-Mart stock. b. Your car is destroyed by a fire, and you purchase a two-year-old car to replace it. c. Your car is damaged by a fire, and you hire a mechanic to repair it. d. Your car is damaged by a fire, and you reduce the number of hours you work to repair the car yourself.
Which of the following portions of the national debt impose a net interest burden on the federal government?
a. treasury bonds held by government agencies b. treasury bonds held by private investors c. treasury bonds held by the Federal Reserve system d. treasury bonds held in the Social Security Trust Fund
For this question, assume that the saving rate increases. We know that this increase in the saving rate will cause which of the following?
A) a temporary increase in the level of output per capita B) no permanent change in the level of output per capita C) a temporary increase in the rate of growth of output per capita D) a permanently higher rate of growth of output per capita E) none of the above