Which of the following examples has the highest opportunity cost?
a. When interest rates are at 10 percent, Krisjan places all of his wages into a checking account.
b. Katrin considers placing money in a Treasury Bill with interest of 7 percent, but decides against it.
c. Gunnar decides not to invest in a CD that has an interest rate of 5 percent.
d. When interest rates are at 3 percent, Freyja decides to use her money for everyday expenses.
a. When interest rates are at 10 percent, Krisjan places all of his wages into a checking account.
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All else held constant, if the government places a tax on each gallon of gasoline produced, then this would cause a
A. movement down along the current supply curve of gasoline. B. rightward shift in the current supply of gasoline. C. leftward shift in the current supply of gasoline. D. movement up along the current supply curve of gasoline.
The United Automobile Workers union can select the most favorable point on the demand curve for labor and the auto manufacturing companies can do nothing in response
a. True b. False Indicate whether the statement is true or false
Ha-eun just received a significant increase in salary. Considering this, her demand for which of the following would most likely increase?
a. discounted produce b. meals in gourmet restaurants c. frozen foods d. meals in fast-food restaurants
Define the following terms and explain their importance in the study of macroeconomics: a. Consumer expenditures b. Investment spending c. National income d. Transfer payments
What will be an ideal response?