You will agree to lend your sister's grandma's daughter $2,000 for a year, if at the end of the year she pays you $2,200. The interest rate you are charging her is
A. 1.1%.
B. 9.09%.
C. 10%.
D. 20%.
Answer: C
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Assume someone organizes all farms in the nation into a monopoly. What is the monopoly's marginal cost curve?
A) It is a horizontal line at the competitive industry's price. B) It is a vertical line at the formerly competitive industry's quantity. C) It is a vertical line at the monopoly's chosen output level. D) It is the formerly competitive industry's supply curve. E) It is the same as the formally competitive industry's average total cost curve.
The labor force is the sum of
A) employed workers and individuals not looking for work. B) unemployed workers and the working-age population. C) employed workers and discouraged workers. D) employed workers and unemployed workers.
Suppose output is $35 billion, government purchases are $10 billion, desired consumption is $15 billion, and desired investment is $6 billion. Desired savings is equal to
A) $2 billion. B) $10 billion. C) $14 billion. D) $16 billion.
The Keynesian approach to fiscal policy calls for: a. budget deficits during periods of inflationary pressure. b. budget surpluses during periods of high unemployment. c. a balanced budget despite the state of the economy
d. tax cuts during recession. e. spending increases during inflation.