Referring to Table 4.2, Box O should be filled with 
A. $2.
B. $0.
C. $7.50.
D. $12.50.
Answer: D
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If the opportunity cost of time is $20 per hour, and an individual spends 20 hours in commuting every month, his opportunity cost of commute is:
A) $20 per month. B) $400 per month. C) $200 per month. D) $1 per month.
If Ep is 3500 and Y is 3000, then
A) planned inventory accumulation is 500. B) planned inventory depletion is 500. C) unplanned inventory accumulation is 500. D) unplanned inventory depletion is 500.
The idea that a decrease in the price level raises the real value of households' money holdings, which increases consumer spending and the quantity of goods and services demanded is known as
a. the interest-rate effect. b. the exchange-rate effect. c. the theory of liquidity preference. d. the wealth effect.
Jessica's marginal cost for producing a pitcher of lemonade is $0.25. Therefore, $0.25 is her:
A. reservation price. B. producers surplus. C. marginal revenue. D. equilibrium price.