The economy is in long-run equilibrium: select one:

a. when the ad and as curves intersect at potential output, y*.
b. when the ad and as curves intersect, regardless of the level of output.
c. when the ad and as curves become vertical.
d. only when the business cycle is eliminated.

Acompany factory is considered which type of resource a. land b. physical capital c. labor d. human capital

Stock market crashes happen when the value of most of the stocks in the stock market increase at the same time. question 10 options: true false

Suppose you win a small lottery and have the choice of two ways to be paid: you can accept the money in a lump sum or in a series of payments over time. if you pick the lump sum, you get $2,950 today. if you pick payments over time, you get three payments: $1,000 today, $1,000 1 year from today, and $1,000 2 years from today. 1) at an interest rate of 6% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 2) at an interest rate of 9% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 3) years after you win the lottery, a friend in another country calls to ask your advice. by wild coincidence, she has just won another lottery with the same payout schemes. she must make a quick decision about whether to collect her money under the lump sum or the payments over time. what is the best advice to give your friend? a) the lump sum is always better. b) the payments over time are always better. c) it will depend on the interest rate; advise her to get a calculator. d) none of these answers is good advice.