Determination of a public good depends only upon the technical characteristics of the good
a. True b. False
b
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Why is growth in GDP different from growth in a nation's standard of living? Is it possible for a nation's GDP to grow while its standard of living falls?
What will be an ideal response?
An electrician quits her current job, which pays $40,000 per year. She can take a job with another firm for $45,000 per year or work for herself. The opportunity cost of working for herself is
A) $5,000. B) $40,000. C) $45,000. D) $85,000.
The law of demand states that
a. quantity demanded is inversely related to price b. quantity demanded is directly related to income c. marginal utility is inversely related to quantity consumed d. total revenue is directly related to price e. demand curves are linear
Jeff Kaufman decides to bank with Paris First National Bank (PFN). He opens a checking account by depositing $1,000 . According to the PFN balance sheet, after this initial $1,000 demand deposit, there are $1,000 in
a. reserves and $1,000 in demand deposits b. liabilities and $2,000 in demand deposits c. demand deposits and $0 in assets d. assets and $0 in liabilities e. reserves and $0 in liabilities