Suppose your expenses for this term are as follows: tuition: $10,000, room and board: $6,000, books and other educational supplies: $1,000. Further, during the term, you can only work part-time and earn $8,000 instead of your full-time salary of $20,000
What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college?
A) $11,000
B) $17,000
C) $23,000
D) $29,000
Answer: C
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According to the interest-rate-based transmission mechanism for monetary policy, a decrease in the money supply will cause the
A) interest rate to fall, causing planned real investment spending to rise and leading to an increase in aggregate demand. B) interest rate to fall, causing planned real investment spending to rise and leading to a decrease in aggregate demand. C) interest rate to rise, causing planned real investment spending to fall and leading to a decrease in aggregate demand. D) interest rate to rise, causing planned real investment spending to rise and leading to a decrease in aggregate demand.
The labor force participation rate is defined as
A) the percentage of the working-age population that is unemployed. B) the percentage of the working-age population that is employed. C) the percentage of the labor force that is employed. D) the percentage of the labor force that is unemployed. E) the percentage of the working-age population in the labor force.
Macroeconomics deals with
A) aggregates within the economy. B) specific sectors within the economy. C) the retail industry only. D) decisions made by firms.
Adults who are waiting to be recalled to a job from which they had been laid off are counted as "unemployed."
a. True b. False Indicate whether the statement is true or false