The accompanying table below shows how total donations, average donations, total labor costs and average labor costs vary depending on the number of employees State U hires for its fundraising activities.Number of EmployeesTotal DonationsAverage DonationsTotal Labor CostsAverage Labor Costs1$30,000 $8,0002$42,426 $17,000 3 $17,321$27,000 4$60,000 $9,5005 $13,416$50,000 The net benefit of hiring fundraisers is largest when ________ employees are hired.
A. 1
B. 2
C. 4
D. 3
Answer: B
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Missouri can produce 10,000 tons of pecans per year or 5,000 tons of pears per year. Washington can produce 12,000 tons of pecans per year or 48,000 tons of pears per year
If these two states were to engage in trade, which of the following is TRUE? A) Missouri would specialize in pear production and trade pears to Washington pecans. B) Missouri would specialize in pecan production and trade pecans to Washington for pears. C) Washington would produce both pears and pecans and Missouri would produce neither. D) Half of both Washington's and Missouri's resources would be devoted to pears and the other half to pecans because that is the comparative advantage.
"Fiscal Policy" is the federal government's plan for
a. international trade, designed to balance exports and imports. b. spending and taxes, designed to influence the level of aggregate demand. c. manipulating the money supply and the control of interest rates. d. All of the above are correct.
"My opponent in this election says she wants a balanced federal budget, but won't say how it would be achieved." This candidate is trying to
A) challenge his or her opponent's commitment to balancing the budget. B) get his or her opponent to say something that will allow a label of "left-wing" or "right-wing" to be attached on her. C) accuse the opponent of going exclusively after the median voter, who is never interested in ends, only means. D) accuse the opponent of going after the votes of the rationally ignorant.
Answer the following statement(s) true (T) or false (F)
1. The Federal Reserve’s policies with respect to the money supply have a direct effect on short-run nominal interest rates. 2. Even when the Fed changes the money supply by changing one of its policy variables, it has little effect on the money market equilibrium. 3. When interest rates on short-term financial assets such as CDs or U.S. Treasury bills are low, the opportunity cost of holding money is high. 4. A decrease in the demand for money will shift the money demand curve to the left. 5. The higher the price level, the lower the demand for money.