Since 1950, the volume of world trade and the volume of world real GDP
A) have both increased at roughly the same rate.
B) have both decreased at roughly the same rate.
C) have both increased, but the volume of world trade has increased more slowly than the volume of world real GDP.
D) have both increased, but the volume of world trade has increased faster than the volume of world real GDP.
Answer: D
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Using typical estimates of the sacrifice ratio, how much output would likely be sacrificed to reduce inflation from 4 percent to 2 percent?
Miniville is an isolated town located on the southern shore of Lake Condescending, a very large lake. The western edge of Miniville is adjacent to impassable mountains and there are no towns or businesses for many miles to the east. The 300 residents of Miniville are evenly distributed along 3 miles of shoreline on the lake, east of the mountains. Lake Shore Drive, the only street in town, provides access to Miniville's homes and businesses. All residents live between the lake and the street; businesses locate on the other side of the street. Lake Shore Drive is 3 miles long, and the points labeled A, B, and C are 1, 2, and 3 miles from the western end of Lake Shore Drive, respectively. All residents of Miniville shop at the store located closest to their homes. src="https://sciemce.com/media/4/ppg__1420829190927__f1q535g1.jpg" alt="" style="vertical-align: 0.0px;" height="113" width="397" />If the first store to open in Miniville is located at A, to maximize the number of customers it attracts, the next store to open should locate:
A. just west of A.
B. just east of A.
C. at C.
D. at B.
People with savings often deposit their funds in a commercial bank, rather than investing them directly with business enterprises, in order to
A) avoid the problems associated with asymmetric information. B) earn the highest possible return for taking on the riskiest investments. C) avoid the problems associated with financial intermediation. D) All of the above are correct.
If Jessie studies economics for two hours instead of going to the movies with her friends, then
A) the benefit of studying is the missed movie. B) the opportunity cost of studying is the missed movie. C) Jesse definitely is making a rational choice. D) Jessie is ignoring a sunk cost. E) Jessie is not responding to any incentives.