Topic: The art of problem solving book
July 17, 2019 / By Janessa Question:
Out of 102 question I do not know these and can not find them!
The fundamental economic problem is
that resources are scarce relative to wants.
supply and demand.
how to make more money.
If an economy is experiencing unemployment, it is operating at a point
on its PPC.
below its PPC.
beyond its PPC.
at the horizontal intercept of its PPC.
at the vertical intercept of its PPC.
Which of the following represents the largest opportunity cost of attending college?
room and board payments
the cost of books and supplies
the stress of studying and exams
income given up by not working as many hours
If a country’s GDP increases from $1m to $2m at the same time prices increase by half (50%), real GDP will
stay the same.
be unable to be determined.
Which of the following would not be counted as part of U.S. GDP?
a Mazda MX6 produced in Detroit
an Apple computer produced in California
a Dodge Intrepid produced in Canada
a six-pack of Sam Adams brewed in Pittsburgh
a haircut given in Washington D.C.
To correct for inflation, GDP numbers must be converted using the price level in a given year known as the
The most important key to improvement in the quality of a country’s labor force is
a) health care.
If the MSC of an additional hour of an activity is greater than the MSB, you should
do more of the activity.
do less of the activity.
not change your level of the activity.
do less of another activity.
do more of the activity if you like doing it.
Which of the following is an organization through which DCs jointly assist LDCs?
the World Bank
the Federal Reserve
To promote development, the governments of LDCs should pursue policies that
improve the quality of labor.
enhance capital accumulation.
raise technology levels.
do all of the above.
11. The fundamental economic problem is how to make money.
12. Current dollar GDP can increase while real GDP decreases.
13. Inefficiency exists whenever the economy’s output combination lies inside its production possibilities curve. (Points: 6)
14. An improvement in education leads to an outward shift in the production possibilities curve.
15. Liberal arts education is generally ineffective in improving the quality of a country’s labor force.
These are really hard! Help!
Eryn | 4 days ago
Looks like you answered your own question, but I'll throw my 2c in... Here's the same answer from earlier - I got 1 thumb down. Let's see if I get more love this time... "The Wall Street Casino is more to blame than the mortgage crisis. Wall Street caused this, enabled by the government, allowed by a public of sheeple, abetted by the fractional reserve Federal Reserve and the rest of the banksters. The derivatives markets are measured in the hundreds of trillions of US dollars. This much wealth only exists in the magical fantasy world of the imaginations of these 'financial wizards' (?). This is the heart of the crisis. This is the engine which drives the entire world's financial markets. And it's running on fumes." ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ You could argue the real estate bubble and accompanying sub-prime collapse simultaneously bursting was what made a bad situation worse. It's kind of a chicken and egg thing. They're closely related and they made each other worse. Bottom line, the real cause of this mess is the Federal Reserve. It's a Ponzi scheme by any definition. They created money by fiat. It was always meant to collapse. What goes up...