Refer to the table above. What is the marginal rent cost if the firm decides to choose factory Very Close over factory Close?
A) -$100
B) -$200
C) $100
D) $200
D
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If disposable income increases, people will decide to ________ saving, the supply of loanable funds will ________ and the real interest rate will ________
A) increase; decrease; rise B) decrease; decrease; rise C) increase; increase; fall D) decrease; increase; fall
The table below shows data for India's economy. Real GDP is measured in millions of rupees. Suppose that full employment occurs when real GDP is 27,000 million rupees
Price level Real GDP supplied in the short run Real GDP demanded a 114 23,501 35,898 b 120 25,355 32,341 c 125 27,670 27,670 d 131 30,366 18,569 e 138 33,164 15,898 The economy is experiencing ________ gap and firms will ________. A) an inflationary gap; increase production B) an inflationary gap; increase money wages paid to workers C) a recessionary gap; increase production D) a recessionary gap; decrease money wages paid to workers
Suppose Lefty has utility characterized by the equation: U l = 3I 1/2 , where I is income. In addition, Righty has utility characterized by the equation: U r = 4I 1/2 , where I is income.
(A) If each had $100,000, which one would have the higher level of utility? (B) Illustrate Lefty's and Right's utility functions. (C) What equal amount of income could we give to both that would also give them the same level of utility?
If two nations are equally armed it is highly likely that neither will initiate a conflict
a. True b. False