Related to the Economics in Practice on p. 26: Based on the increase in the number of women in the labor force over the past 60 years, the opportunity cost of preparing a home-cooked meal
A. increased.
B. dropped to zero.
C. decreased.
D. remained constant.
Answer: A
Economics
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The law of diminishing marginal utility is consistent with the consumer behavior that produces a negatively sloped demand curve.
Answer the following statement true (T) or false (F)
Economics
If firms and workers could predict the future price level exactly, the short-run aggregate supply curve would be
A) downward sloping. B) horizontal. C) upward sloping. D) vertical.
Economics
In the short-run macro model, the change in inventories will
a. equal output minus aggregate expenditures b. trigger a price change c. equal investment minus depreciation d. equal sales minus investment e. be matched by an equal and opposite change in the subsequent period
Economics
Fill in the Marginal Output column.
Economics