Which of the following is an implicit cost of going to college?
A. Cost of books and supplies
B. Foregone wages
C. Room and board
D. Tuition
Answer: B
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If the Fed wants to fight inflation, it will ________ the federal funds rate in order to ________
A) raise; decrease aggregate supply B) raise; increase aggregate supply C) raise; decrease aggregate demand D) lower; decrease aggregate demand E) lower; increase aggregate supply
Explain why the FDIC is following a "too-big-to-fail" policy of fully protecting all depositors at the largest banks
What will be an ideal response?
A proponent of supply-side economics would advocate
a. increasing income taxes on saving. b. reducing corporate income tax. c. increasing capital gains tax. d. increasing personal income tax.
Comparing the monopolist to the perfect competitor,
A. only the monopolist produces where MC equals MR. B. both have downward-sloping demand curves. C. only the perfect competitor will make an economic profit in the long run. D. only the monopolist will make an economic profit in the long run.