An economy doubles in size every 35 years if it maintains a steady annual growth rate of about __________ percent
A) 4.0
B) 2.8
C) 3.5
D) 2.0
D
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This group consists of seven members appointed by the President of the United States for 14-year terms
A) the presidents of the Federal Reserve Banks. B) the members of the Federal Open Market Committee. C) the members of the Board of Governors of the Federal Reserve System. D) None of the above answers are correct.
In general the present value of $1,000 received in the future will
A. be independent of the market rate of interest. B. be lower the higher the market rate of interest. C. be lower the lower the market rate of interest. D. worth the same whether received one year from today or two years from today.
Why do the individual demand curves for Peter and Lois have steeper downward slopes than the market demand curve?
a. The market demand curve has a larger change in quantity of coffee demanded than individual curves.
b. The market demand curve has a larger change in coffee prices than individual curves.
c. The market demand curve has a lesser change in quantity of coffee demanded than individual curves.
d. The market demand curve has a lesser change in coffee prices than individual curves.
If the demand for steak increases as income increases, then steak is a(n):
A. normal good. B. inferior good. C. substitute good. D. complementary good.