Refer to Table 1-1. Using marginal analysis, by how many hours should Lydia extend her nail salon's hours of operations?
A) 2 hours B) 3 hours C) 4 hours D) 5 hours E) 6 hours
D
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Elaborate on your answer to the previous question by using demand curves. For which good does demand change and for which good does the quantity demanded change?
What will be an ideal response?
Suppose the working-age population of a fictional economy falls into the following categories: 90 are retired or homemakers; 60 have full-time employment; 20 have part-time employment; 20 do not have employment, but are actively looking for
employment; and 10 would like employment but do not have employment and are not actively looking for employment. The official unemployment rate as calculated by the U.S. Bureau of Labor would equal A) (20/80 ) × 100. B) (20/60 ) × 100. C) (30/80 ) × 100. D) (20/100 ) × 100.
To reconcile net national product and national income,
a. national income is calculated first, and capital depreciation is subtracted from it to get net national product b. national income is calculated first, and indirect business taxes are subtracted from it to get net national product c. net national product is calculated first, and indirect business taxes are subtracted from it to get national income d. net national product is calculated first, and compensation of employees is added to it to get national income e. gross national product is calculated first, and capital depreciation plus nonfactor charges are subtracted to get national income
The money multiplier is equal to:
A. the government spending multiplier. B. the marginal propensity to consume. C. the reserve ratio. D. 1/(reserve ratio).