How does an individual know whether or not an investment in education is worthwhile?
What will be an ideal response?
A worthwhile investment is one for which the expected present value of future benefits exceeds the present value of costs.
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A person should consume more of something when its marginal
A. cost exceeds its marginal benefit. B. benefit is positive. C. benefit exceeds its marginal cost. D. cost equals its net marginal benefit.
In the model of the money supply process, the bank's role in influencing the money supply process is represented by
A) the excess reserve. B) both the excess reserve and the market interest rate. C) the currency ratio. D) only borrowed reserves.
What best describes westward movement of population between 1800-1860?
a. The 1850s was the decade when the largest number of people moved to the west. b. The large increase in and sales in this period was based on speculation. c. Migrants moved to the west because they were "pushed" out of the east, where conditions were getting worse. d. Corn prices were relatively low in the decades when migration to the west was largest.
Without money, no transaction can occur
a. True b. False Indicate whether the statement is true or false