Refer to Table 1-1. What is Eva's marginal benefit if she decides to stay open for two hours instead of one hour?
A) $25 B) $36 C) $60 D) $95
A
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Suppose that domestic personal computer firms complain to Congress that cheap exports are driving them out of business. Congress, worried about job losses, decides to restrict trade, and is considering either a tariff or a quota on imported personal
computers. a . Explain which Congress will choose if it wants to restrict trade, yet please importers. b. Explain which Congress will choose if it wants to use the restriction as a source of revenue. c. How do tariffs and quotas differ?
The Consumer Price Index is used specifically to measure the
A. Inflation rate. B. Business cycle. C. Growth rate of the economy. D. Unemployment rate.
You are ill on the day of the concert for which you had bought tickets almost a month ago. Since you paid almost $40 for the tickets, you are considering whether to go to the concert anyway. Rational choice theory says that you should go to the concert only if:
A. the benefits of going outweigh the $40 dollars plus any additional pains associated with getting out of bed while being sick. B. the benefits of going outweigh the $40 dollars you spent on the tickets. C. the benefits of going outweigh any pains associated with getting out of bed while being sick. D. you feel better.
The time that elapses between the beginning of a recession or an inflationary episode and the identification of the macroeconomic problem is referred to as a(n)
A. legislative lag.
B. implementation lag.
C. recognition lag.
D. budget lag.