Sharon wants a career as an accountant. During the summer she turns down a job painting houses at $6 an hour to work in an accounting office for $4 an hour. Which of the following would not explain her choice?
a. Accounting is more prestigious.
b. The summer accounting job will help her get a full-time job in accounting when she graduates.
c. She prefers to work inside.
d. She would face the law of diminishing marginal utility if she had more goods.
e. She dislikes the messiness of painting.
D
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The marginal cost of hiring the 7th worker is
a. $400 b. $1000 c. $200 d. $0
By comparing the value of marginal product with the marginal cost per input, a firm can find the:
A. cost-maximizing quantity to hire. B. profit-maximizing quantity to hire. C. revenue-maximizing quantity to hire. D. output-maximizing quantity to hire.
An increase in the amount of excess reserves held by a bank helps to increase the economy's money supply
a. True b. False Indicate whether the statement is true or false
When the United States moves upward along the J-curve, it is because a depreciation of the dollar is having the _____________ effect of _____________ the number of dollars spent on imports
A) long-run; increasing B) long-run; reducing C) short-run; increasing D) short-run; reducing