In economics, the term "leisure" refers to:
A. nonwork activities that individuals enjoy doing.
B. all nonwork activities.
C. the vacation time on receives when working.
D. those activities that individuals enjoy doing.
Answer: B
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What must be true for a consumer to enjoy a consumer surplus from a unit of a good?
What will be an ideal response?
The price of domestic goods in terms of foreign goods is referred to as the
A) nominal exchange rate. B) real exchange rate. C) relative inflation rate. D) purchasing power parity rate.
__________ inflation will tend to hurt those whose money received, in terms of wages and interest payments, does not rise with inflation.
a. Unexpected b. Expected c. Flat d. Reduced
Which of the following shifts both the short-run and long-run aggregate supply right?
a. an increase in the actual price level b. an increase in the expected price level c. an increase in the capital stock d. None of the above is correct.