You decide to spend time studying for a philosophy exam, even though you have offers to go to see a movie, go out to dinner, or go to a poetry reading
This is a difficult choice for you because you really want to go to the poetry reading and would choose that over seeing the movie or going out to dinner. Your opportunity cost of spending time studying for your philosophy exam is A) going to the movie.
B) going out to dinner.
C) going to the poetry reading.
D) all of the above, since you have offers to do all three
C
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Assume an economy produces only hamburgers and hotdogs and the base year is 2005. Quantity producedPrices 2005200620052006Hamburgers2,0003,0002$3Hotdogs3,0004,0001$1.50Given the data in the table above, what is the value of nominal GDP in 2006?
A. $15,000 B. $10,500 C. $ 5,000 D. $ 7,000
An individual in the labor force whose employment was involuntarily terminated is
A) a job leaver. B) a job loser. C) a job reentrant. D) part of the PPI.
Bill's disposable income goes from $100,000 in 2010 to $200,000 in 2011, and his consumption spending goes from $80,000 in 2010 to $140,000 in 2011 . Which of the following statements about Bill is true? a. Bill's MPC rose between 2010 and 2011. b. Bill's MPC is equal to 0.7
c. Bill's MPC is equal to 0.6. d. Both (a) and (b) are true.
Interest rates in the United States were low for an extended period after the recession of 2001 . Many cite these low levels as a major reason for fueling housing speculation that caused the Great Recession. Which of the following was a cause of low interest rates in the United States?
a. Loose monetary policies by the Federal Reserve. b.Muted inflationary expectations. c. Strong capital inflows from foreign countries with high saving rates. d. All of the above.