Chris is preparing for a comprehensive course exam by reading a textbook with chapters of equal length and difficulty. The number of chapters she can comprehend and master when studying is: (1) hour one: 1.5 chapters; (2) hour two: 2.0 chapters; (3) hour three: 1.5 chapters; (4) hour four: 1 chapter; (5) hour five: 0 chapters. Diminishing marginal returns to studying sets in for Chris after hour:
A. One
B. Two
C. Four
D. Five
B. Two
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Exports are domestically produced goods and services
A) sold at home. B) sold to other countries. C) sold to the government. D) which are used to produce other goods and services.
The expenditure approach to measuring GDP involves adding up the purchases of final goods and services by market participants
a. True b. False Indicate whether the statement is true or false
There are many concerns for risk-averse lenders. Consider the following: 1 . Lenders are concerned that borrowers with the greatest risk are the ones most likely to actively pursue loans. 2 . Lenders are concerned that real GDP will decline leading to reduced corporate profits. 3 . Lenders are concerned that products produced by certain corporations will become obsolete
a. 1 is market risk; 2 is firm-specific risk b. 2 is market risk; 3 is firm-specific risk c. 3 is market risk; 1 is firm-specific risk d. 2 is firm-specific risk; 3 is market risk
The following table shows the units of output a worker can produce per month in country A and country B. Country Food Electronics Country A 20 5 Country B 12 4 The opportunity cost of I unit of food in country A is
A. ¼ of a unit of electronics. B. ½ of a unit of electronics. C. 1/3 of a unit of electronics. D. All of these.