Suppose that you want to build a community garden for your neighborhood, which has 500 residents. The cost of the garden is $2,000 . and each person values the garden at $3 . After a month, you have only received 75 donations at $3 each. The result is that
a. the local government should build the garden, but you should not.
b. you should still build the garden, but the local government should not.
c. neither you nor the local government should build the garden.
d. either you or the local government should build the garden.
c
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A short-run macroeconomic equilibrium occurs
A) at the intersection of the short-run aggregate supply curve and the long-run aggregate supply curve. B) at the intersection of the short-run aggregate supply curve and the aggregate demand curve. C) at the intersection of the short-run aggregate supply curve, the long-run aggregate supply curve, and the aggregate demand curve. D) when the rate at which prices of goods and services increase equals the rate at which money wage rates increase.
Exclusion of which of the following tends to understate the true level of unemployment in the economy?
a. Children. b. Retired persons. c. Students. d. People who do not want to work. e. Discouraged workers.
According to purchasing-power parity, if it took 58 Indian rupees to buy a dollar today, but it took 55 to buy it a year ago, then the dollar has
a. appreciated, indicating inflation was higher in the U.S. than in India. b. appreciated, indicating inflation was lower in the U.S. than in India. c. depreciated, indicating inflation was higher in the U.S. than in India. d. depreciated, indicating inflation was lower in the U.S. than in India.
If the amount of time spent procrastinating and the performance on an exam are inversely related, then
A. more procrastination leads to lower exam grades.
B. more procrastination leads to higher exam grades.
C. a graph with this relationship would be positively sloped.
D. the slope of the line reflecting this relationship will be 0.