Refer to Table 10-6. If Jay can eat all the burgers he wants for free, how many burgers will he consume?
A) 7 burgers B) 6 burgers C) 5 burgers D) 3 burgers
C
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Answer the next question using the following budget information for a hypothetical economy. Assume that all budget surpluses are used to pay down the public debt. Government SpendingTax RevenuesGDPYear 1$450$425$2,000Year 25004503,000Year 36005004,000Year 46406205,000Year 56805804,800Year 66006205,000The budget deficit in year 3 is
A. $3,050 billion. B. $295 billion. C. $175 billion. D. $100 billion.
The proven-reserves figure used in most years-to-depletion calculations encompasses oil reserves that are ________ and ________ to extract
A) known; economical B) both known and unknown; economical C) known; both economical and uneconomical D) both known and unknown; both economical and uneconomical
Average fixed costs of production
A) will rise at a fixed rate as more is produced. B) remain constant. C) graph as a U-shaped curve. D) fall as long as output is increased.
Econometricians are economists who specialize in
a. descriptive or nontheoretical analysis b. economic behavioral characteristics of children's consumption c. the study of microeconomics d. the historical view of past economic problems e. quantitative economic research methods