In deciding how many guitars to buy for his shop before the Christmas season, Mark is making a(n) ________ decision.
A. normative
B. irrational
C. macroeconomic
D. microeconomic
Answer: D
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Lower U.S. interest rates cause the value of the dollar to
A) fall, making U.S. goods relatively more expensive on world markets. B) fall, making U.S. goods relatively cheaper on world markets. C) rise, making U.S. goods relatively more expensive on world markets. D) rise, making U.S. goods relatively cheaper on world markets.
The table above shows the total product schedule for Shines Car Wash. The market for car washes is perfectly competitive and car washes sell for $5 each. The labor market is competitive and the wage rate is $50 per day
What is the value of marginal product for each worker? How many workers does the firm hire to maximize profit?
A ____ is a type of derivative in which the seller promises to pay the buyer of a particular security the value of that security if it goes into default.
A. credit default swap B. derivative C. mortgage-backed security D. futures contract
An economic model is:
a. a plastic scaled version of the economy. b. a complete depiction of reality. c. an abstraction from reality. d. applicable to consumer behavior but not to producer behavior. e. not an accepted tool of the economics profession.