Comparing how many dollars it takes you to run your car each year to annual earnings on a job instead of keeping track of costs in terms of gallons of gasoline and quarts of oil represents the use of money as a:
a. means of payment.
b. unit of account.
c. store of purchasing power.
d. form of plastic money.
b
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The accompanying table lists the height (STUDHGHT) in inches and weight (WEIGHT) in pounds of five college students. Calculate the correlation coefficient. STUDHGHTWEIGHT 74165 73165 72145 68155 66140
What will be an ideal response?
If the marginal resource cost of the tenth worker hired by a firm is $4 and the wage of the tenth worker is $3, the firm will hire ten workers if the marginal revenue product of the tenth worker is
a. $3 b. less than $3 c. greater than or equal to $3 d. greater than or equal to $4 e. less than $4
Looking ahead to how the shopkeeper is more likely to respond what price should the customer more likely to quote?
a. High price b. Low price c. Let the shopkeeper quote the price d. A compromised price between the high and the low
Physicians salaries increased substantially over the decade 1995-2005 from an average of $215,000 to $315,000 . What is the best explanation for this?
a. Physicians were smarter in 2005 than in 1995. b. The supply of physicians has increased. c. The supply of physicians has decreased. d. The demand for physicians has increased. e. The demand for physicians has decreased.