What is Calvin’s opportunity cost to produce 3/4 pound of food?
a. 1/2 yard of cloth
b. 1 yards of cloth
c. 1-1/2 yards of cloth
d. 2 yards of cloth
b. 1 yards of cloth
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Suppose your college sharply raises tuition rates next year. Other things constant, what is the least likely to occur?
A) The overall demand for courses at your college will fall. B) Your college bookstore will sell fewer textbooks. C) It will be easier to find parking at your college. D) Fewer students will use your college library.
If the interest rate is 10 percent, the present value of $400 to be received one year from today is about
A) $440. B) $390. C) $364. D) $377.
Is it possible for sellers to benefit more than consumers from a subsidy to buyers?
A. Yes, if the sellers need it more. B. Yes, if the supply curve is relatively less elastic than the demand curve. C. Yes, if the supply curve is relatively more elastic than the demand curve. D. Producers can never benefit more than buyers from a subsidy to buyers.
When money demand shifts, the Fed must choose between targeting the money supply and targeting the interest rate; it cannot target both
a. True b. False Indicate whether the statement is true or false