Which of the following can most easily be converted into goods and services?
a. money
b. CDs
c. stocks
d. bonds
a. money
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A worker will become indifferent between spending the next hour on work or leisure if the benefit of another hour of work is:
A. greater than the opportunity cost. B. exactly equal to the opportunity cost. C. less than the opportunity cost. D. constant for each additional hour worked.
When negative spending shocks occur, transfer payments automatically fall
a. True b. False
Entrepreneurship refers to:
A.) Natural resources, such as land and water. B.) Computer technology. C.) Skilled labor. D.) Ability to see market opportunities and the will to take risk
The foreign exchange rate is the ________.
A. value of imports of the goods and services and the exports of goods and services in an economy B. amount of one nation's currency that can be purchased with a unit of another nation's currency C. real rate of interest on long-term government bonds in other nations D. rate at which money serves as a medium of exchange for goods and services that would typically be bartered