Joe likes to sleep late in the mornings and play tennis in the afternoons. The opportunity cost of Joe attending his morning class for one hour is
A) an hour of tennis given u
B
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Which of the following sets of goods might, under the right circumstances, be substitutes for water?
A) Milk and juice B) Beer and wine C) Stones and bricks D) A, B, and C above are all potential substitutes for water. E) A and B above are potential substitutes for water, but C (stones and bricks) can never be substitutes for water in the real world.
There is clear evidence of a race-to-the-bottom internationally, regarding working conditions and the environment
Indicate whether the statement is true or false
The size of the marginal propensity to consume determines the size of
a. government spending in the economy. b. the multiplier. c. planned investment in the economy. d. None of these.
Assume that the central bank purchases government securities in the open market. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and the nominal value of the domestic currency in the context of the Three-Sector-Model?
a. The GDP Price Index rises, and nominal value of the domestic currency falls. b. The GDP Price Index falls, and nominal value of the domestic currency rises. c. The GDP Price Index rises, and nominal value of the domestic currency remains the same. d. The GDP Price Index rises, and nominal value of the domestic currency rises. e. There is not enough information to determine what happens to these two macroeconomic variables.