Total revenue minus total cost is equal to
A. net cost.
B. profit.
C. marginal revenue.
D. the rate of return.
Answer: B
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In making decisions about insurance, a crucial piece of information to know is:
A. how easily you can reduce the risk of experiencing the event you're insuring against. B. how many others will likely be affected by the same risk. C. how catastrophic would the event's occurrence be if the event you're insuring against happened. D. when the event you're insuring against is most likely to occur.
Which of the following is false?
a. If people can anticipate the plans of policy makers and alter their behavior quickly, their behavior could neutralize the intended impact of government action on real GDP. b. The theory of rational expectations leads to optimistic conclusions regarding macroeconomic policy's ability to achieve its intended economic goals. c. Rational expectation economists believe that wages and prices are flexible, and that workers and consumers incorporate the likely consequences of government policy changes quickly into their expectations. d. Catching consumers and businessmen off-guard with macroeconomic policy changes gets harder the more you try to do it.
The planned investment function will shift upward if
A. the interest rate rises. B. business expectations become more optimistic. C. the existing stock of capital falls. D. real disposable income decreases.
Countries with the highest degrees of governmental bureaucratic inefficiency index
A. normally have the lowest measured levels of dead capital. B. typically are nations with the lowest real GDP per capita. C. typically are nations with the highest real GDP per capita. D. normally have the highest measured levels of economic freedom.