As long as interest-earning opportunities exist, present dollars are worth
A. More than future dollars.
B. Less than inflation-adjusted dollars.
C. Less than future dollars.
D. More than previous periods' dollars.
Answer: A
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The table above shows data reported by the Office for National Statistics for the United Kingdom in September 2000. In September 2000, the labor force participation rate is
A) 34.8 percent. B) 40.3 percent. C) 63.1 percent. D) 58.3 percent. E) 59.7 percent.
The income elasticity of demand for restaurant meals is 1.61. So
A) if income increases by 16.1 percent, the quantity demanded of restaurant meals will increase by 10 percent. B) if income increases by 10 percent, the quantity demanded of restaurant meals will increase by 16.1 percent. C) restaurant meals are an income elastic normal good. D) Both answers B and C are correct.
By focusing on the short-run adjustments of aggregate demand, Keynesian economics risks _____________ the long-term causes of economic growth or the natural rate of unemployment that exists, even when the economy is producing at potential GDP.
a. overlooking b. fueling c. minimizing d. increasing
Explain how products produced by high-wage workers in the United States can compete with the products manufactured in countries whose workers earn much lower wages.
What will be an ideal response?