Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential
B. higher; potential
C. higher; higher
D. lower; higher
Answer: B
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One of the virtues of rising resource prices is they encourage innovation, especially the discovery of other more abundant resources.
Answer the following statement true (T) or false (F)
The face value of a bond is
A) the dollar amount that a person would receive if he or she were to sell the bond. B) the dollar amount that a person would receive if he or she were to buy the bond. C) the total value of payments that will be made over the course of the bond's life. D) the dollar amount of the bond's final payment at maturity.
Which of the following best describes a nation's Gross Domestic Product?
A. the total market value of all final goods and services produced in the economy during a year B. the market value of all goods and services produced in the economy, including intermediate goods C. the market value of all goods and services less depreciation D. the constant dollar value of all goods produced in the economy during a year period
Survivor bias
A. is a type of selection bias. B. is relatively insignificant with respect to economic research. C. can only occur in studies involving people of significant age difference. D. all of the above