Economists are often required to make unrealistic assumptions concerning the problems they are investigating
a. True
b. False
Indicate whether the statement is true or false
True
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High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour. Number of WorkersChairs Produced Per Hour00110218324428530For simplicity, assume that labor is the only input. How many workers will be hired if the hourly wage for workers is $70?
A. 3 B. 4 C. 1 D. 2
The SMarT program is designed to overcome which common barrier to saving?
A. Status-quo bias B. An unwillingness to forgo current consumption C. The program was designed to overcome both A and B. D. The program was designed to overcome neither A nor B.
The monopolist's demand curve is identical to
a. the monopolistic competitor's demand curve b. the industry demand curve c. a horizontal line that represents a constant price across the production range d. mutual interdependence e. a collection of firms producing the same good
When the required reserve ratio is 15% and a banks deposits are $100 million, the bank is required to put $1 million into required reserves
a. true b. false