A point inside the production possibilities curve is ____ while a point outside the curve is ____
A. Attainable; unattainable
B. Unattainable; attainable
C. Below the maximum possible; the maximum possible
D. The maximum possible; below the maximum possible
Answer: A
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If "an apple a day keeps the doctor away" and you are only interested in keeping the doctor away—which you value at 100 utils—what is the total utility you derive consuming 2 apples and what is the marginal utility of the second apple?
a. 200; 100 b. 100; 200 c. zero; 100 d. 100; zero e. 200; zero
How big is the labor force? # of employment 800 # of unemployment 200 Not in labor force
A. 250 B. 800 C. 1000 D. 1050 E. 850
Which of the following measures of effectiveness is an intermediate measure?
a. Cholesterol level b. Bone-mass density (BMD) c. Hip fracture d. Tumor size e. Blood pressure
Which of the following was not a factor that contributed to the subprime mortgage crisis?
A. False security derived from FDIC insurance on mortgage loans B. Lower down payments C. Households devoting 25 percent or more of their income to mortgage payments D. Lending to households with adverse credit ratings