From an economic perspective, when a student decides to attend another year of college, the student has concluded that the marginal:
A. benefits of attending college are greater than the marginal costs.
B. costs of attending college will be subsidized by someone else such as parents or the government.
C. costs of attending college have increased that year.
D. benefits of attending college have decreased that year.
Answer: A
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The opportunity cost of holding excess reserves is equal to
A) the federal funds rate. B) the federal funds rate minus the discount rate. C) the discount rate. D) none of the above.
The existence of union wages, efficiency wages, and the minimum wage
A) raises the real wage rate above the equilibrium wage rate and raises the natural unemployment rate. B) lowers the real wage rate below the equilibrium wage rate and creates a shortage of labor. C) raises the real wage rate above the equilibrium wage rate and creates a shortage of labor. D) raises the real wage rate above the equilibrium wage rate and lowers the natural unemployment rate. E) does not have an impact on the equilibrium wage rate or on the amount of unemployment.
Initially, the economy is at point B on Figure 10-1 above. According to the Solow growth model, an increase in the output per capita without an increase in capital per worker is represented by ________ and could be the result of ________
A) the movement B to E; new technology discoveries B) the movement B to H; improved health and education per worker C) the movement B to C; an increase in the savings rate D) the movement B to F; a decrease in the savings rate
The current account shows transactions in goods and services; the capital account shows purchases and sales of assets; and the official reserve transactions account shows movement of international reserves
a. True b. False