Nonmonetary considerations tend to be most important in the allocation of:
A. Land resources
B. Capital resources
C. Labor resources
D. Natural resources
C. Labor resources
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If you want to earn a real interest rate of 3% on money you lend, and you expect that inflation will be 2%, what nominal rate of interest will you charge?
A) 1% B) 5% C) 6% D) 9%
Refer to Figure 9.6. Before this policy was implemented, consumer surplus was
A) $20. B) $4000. C) $6000. D) $8000. E) $12000.
Under normal circumstances, the equilibrium compensation wage differential is the wage differential that exactly attracts the
A. marginal worker into the labor market. B. average high-skilled worker into a low-skill job. C. average worker into a regular job. D. marginal worker into a risky job. E. average worker into a less risky job.
An example of a good that exhibits a negative network externality is:
A. a wireless internet connection. B. Facebook. C. telephones. D. All of these are examples of goods that create negative network externalities.