During most of the 1990s, average hours worked per week ____, then, after 2000 . started to ____
a. rose steadily; level off
b. remained virtually constant; drop slowly.
c. were on the upswing; fall slowly.
d. continued to decline; level off
b
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Other things constant, when household "time preferences" ________, business investment tends to ________
A) fall; fall B) fall; rise C) rise; fall D) rise; rise
Would the use of money, as opposed to barter, increase the growth rate of real GDP in a country over time? Why or why not?
What will be an ideal response?
Jason, a high-school student, mows lawns for families in his neighborhood. The going rate is $12 for each lawn-mowing service
Jason would like to charge $20 because he believes he has more experience mowing lawns than the many other teenagers who also offer the same service. If the market for lawn mowing services is perfectly competitive, what would happen if Jason raised his price? A) If Jason raises his price he would lose all his customers. B) He would lose some but not all his customers. C) Initially, his customers might complain but over time they will come to accept the new rate. D) If Jason raises his price, then all others supplying the same service will also raise their prices.
If your risk of losing your house to catastrophe is 25%, how much would fair insurance cost if your home were worth $1,000,000?
A) $250,000 B) $750,000 C) $1,000,000 D) Unable to determine with the information given.