Which is the more efficient use of one's tight budget: going to a first-run movie at $7.50 or waiting for the video to be available through Netflix?
A) Going to the first-run movie
B) Waiting for the video
C) Doing neither, especially if one's budget is tight.
D) It depends on the chooser's own evaluations of costs and benefits.
D
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If the quantity of goods and services produced in an economy decreases,
A) it may be possible for nominal GDP to increase. B) real GDP will certainly increase. C) nominal GDP will certainly decrease. D) it may be possible for real GDP to increase.
Reserves are ________
A) gold in a bank's vault plus its gold at Federal Reserve banks B) cash in a bank's vault plus its deposits at Federal Reserve banks C) cash in a bank's vault plus its gold at Federal Reserve banks D) cash in a bank's vault plus the cash carried by its customers
Given the total cost and total revenue curves in the above figure, what are the output levels at which the perfect competitor will incur economic losses?
A) below 80,000 bushels B) from 30,000 to 80,000 bushels C) below 30,000 bushels and over 80,000 bushels D) at 30,000 bushels and at 80,000 bushels
Explain the ways in which the government can persuade private businesses to invest more in order to speed up the process of capital formation?