A(n) ________ in U.S. prices will cause an increase in the demand for U.S. dollars and a(n) ________ in the (per dollar) exchange rate.
A. increase; increase
B. increase; decrease
C. decrease; increase
D. decrease; decrease
Answer: C
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When Frankie spends all his money in such a way that the marginal utility per dollar is the same for all final purchases of products he consumes, Frankie has maximized
A) his marginal utility. B) his total utility. C) the number of products he consumes. D) his total expenditure on all products.
Because it is a unit of account, money
A) increases transaction costs. B) reduces the number of prices that need to be calculated. C) does not earn interest. D) discourages specialization.
What time period in U.S. history do we generally recognize as the peak of labor union membership?
A) 1900s-1920s B) 1920s-1940s C) 1940s-1970s D) 1970s-2000s
Alex received a four-year scholarship to State U. that covered tuition and fees, room and board, and books and supplies. If Alex becomes a full-time student, then:
A. the opportunity cost of attending State U. includes the sum of the benefits Alex would had from attending each of the other schools to which he was admitted. B. Alex has no incentive to study hard while at State U. C. the opportunity cost of attending State U. includes the money Alex could have earned working for four years. D. attending State U. for four years is costless for Alex.