Refer to Table 2-8. What is Betty's opportunity cost of making a bench?
A) 1/2 of a statue B) 2.8 statues C) 1.75 benches D) 2 statues
D
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In response to the Great Recession of 2007-2009, when did the Federal Reserve first cut the federal funds rate to zero?
a. December 2007 b. June 2008 c. December 2008 d. January 2010
Macroeconomic topics do not usually include: a. the rate of inflation
b. the rate of unemployment. c. economic growth. d. the profit maximizing decisions of an individual firm.
Which of the following is not another way of describing the marginal propensity to consume?
a. MPC b. The slope of the consumption function c. The change in real consumption spending divided by the change in real disposable income d. The amount by which real consumption spending rises when real disposable income increases by one dollar e. Autonomous consumption spending
Suppose your management professor has been offered a corporate job with a 30 percent pay increase. He has decided to take the job. For him, the marginal
a. cost of leaving was greater than the marginal benefit. b. benefit of leaving was greater than the marginal cost. c. benefit of teaching was greater than the marginal cost. d. All of the above are correct.