Refer to Table 2-8. What is Betty's opportunity cost of making a statue?
A) 2 benches B) 1.4 statues C) 1/2 of a bench D) 1/3 of a bench
C
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In the range of disposable income where the consumption function lies above the 45° line,
A) disposable income is negative. B) saving is negative. C) disposable income equals planned expenditures. D) induced consumption is zero. E) saving is positive.
Ava states, "If raising the minimum wage to $10 an hour is good, like Senator Largess suggests, then raising it to $20 an hour would be twice as good." Is Ava correct? Why or why not?
Which of the following is a valid concern about the national debt for a country whose debt is held entirely by its citizens?
a. The welfare of future generations will be directly related to the per-capita size of the national debt that they inherit. b. Growth of the national debt will eventually lead to the bankruptcy of the government. c. When the debt comes due, future generations may be unable to pay it off. d. If the increases in the national debt reduce private expenditures on capital formation, future generations may have lower incomes because they will inherit a smaller stock of capital.
Appreciation of the dollar refers to
A. An increase in the dollar price of foreign currency. B. A fall in the dollar price of a foreign currency. C. Intervention in international money markets. D. A loss of foreign exchange reserves.