Which of the following two statements is true of the graph shown below?Statement 1: The graph leads to a supply of labor curve that is positively sloped throughout.Statement 2: The opportunity cost of leisure is lower at point A than at point D. 
A. Statement 1
B. Statement 2
C. Both statements are true
D. None of the statements is true
Answer: B
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Why are transfer payments excluded from the GDP and NI? Why should they be counted as a part of personal income?
What will be an ideal response?
The production of methamphetamine (meth) is a social problem in the Midwest. Iowa is considering two potential programs: Operation Methbust would increase the number of sheriffs' deputies to search out and destroy methamphetamine labs. Operation Say No to Meth would increase the training required of public school teachers so that they could better educate students about the health risks of using meth. Assuming that each program were successful, which of the following statements is correct?
a. Both Operation Methbust and Say No would reduce the demand for meth. b. Both Operation Methbust and Say No would reduce the supply of meth. c. Operation Methbust would reduce the demand for meth; Operation Say No would reduce the supply of meth. d. Operation Methbust would reduce the supply of meth; Operation Say No would reduce the demand for meth.
Which of the following statements is true?
A) The demand curve for money balances represents a direct relationship between the quantity demanded of money balances and the price of holding money balances. B) In the United States, the position of the money supply curve is determined exclusively by the Fed. C) The "money market" discussed in this chapter refers to the market for short-term securities. D) If, at a given interest rate, individuals want to hold less money than is supplied, this will put downward pressure on the interest rate. E) none of the above
Figure 15.3 depicts a one-mile stretch of beach with 100 swimmers distributed evenly along the beach. There are two ice cream vendors - 1 and 2 - on the beach selling an identical product. Assume that each swimmer buys only one ice cream cone and that they prefer to buy ice cream from the nearer vendor. If vendor 1 is at B while vendor 2 is at D, vendor 1 has an incentive to move:
A. to the left of its current location. B. toward the median location. C. to the right of vendor 2's location. D. None of these