One reason why better-looking workers may have higher earnings is that physical attractiveness is correlated with intelligence
a. True
b. False
Indicate whether the statement is true or false
False
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Specialization and division of labor are made easier by the existence of money.
Answer the following statement true (T) or false (F)
In an economy with no income taxes or imports, the marginal propensity to consume is 0.80. The expenditure multiplier is
A) 1.25. B) 10.0. C) 0.80. D) 5.00. E) 0.20.
Suppose Hanna spends her entire budget buying bagels and cups of coffee each day. Also, suppose the marginal utility of her last bagel is 100 and the marginal utility of her last cup of coffee is 200
If the price of a bagel is $4 and the price of a cup of coffee is $2, then A) Hanna needs to decrease her consumption of bagels to maximize her utility. B) Hanna needs to increase her consumption of bagels to maximize her utility. C) Hanna should buy half as many bagels as coffee in order to maximize her utility. D) bagels must provide more total utility than coffee.
If the Fed decides to keep interest rates low when there is a large budget deficit, economists conclude that the Fed is
A. monetizing the debt. B. neutralizing the effects of the deficit. C. correcting the deficit for inflation. D. resisting the effects of the deficit.