Refer to Figure 5-13. The efficient equilibrium price of gasoline is ________ per gallon
A) $3.00 B) $3.75 C) $4.25 D) $5.00
A
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An increase in the interest rate causes investment to
a. rise and the exchange rate to appreciate. b. fall and the exchange rate to depreciate. c. rise and the exchange rate to depreciate. d. fall and the exchange rate to appreciate.
The costs borne by an individual victim of theft can diverge from the social costs if the
A. stolen items were destroyed by the thief. B. stolen items were priceless. C. stolen items were recovered for the victim by the police. D. all of the options are correct.
________ are costs that do not require a monetary payment.
A. Implicit costs B. Explicit costs C. Accounting costs D. All opportunity costs
Refer to Table 4-8. If a minimum wage of $10.00 an hour is mandated, what is the quantity of labor supplied?
A) 390,000 B) 370,000 C) 350,000 D) 40,000