To increase income by $120 when the slope of the curve showing the relationship between your income and work hours is 8, how many extra hours will you need to work?
A) 8 B) 15 C) 112 D) 960
B
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According to the Keynesian model, an economy will have persistent, high unemployment if:
a. the government runs a budget deficit. b. markets operate freely. c. its total spending is too low. d. firms make too many investments.
Which of the following refers to human capital?
a. Money spent by business to acquire labor b. The acquired skill and productivity of workers c. The plant and equipment used with labor d. Money spent on purchasing the latest machinery e. Money that workers save
A nominal exchange rate is unadjusted for aggregate price levels
a. True b. False Indicate whether the statement is true or false
Which of the following statements is false?
A) Asymmetric information can exist both before and after a transaction. B) Moral hazard occurs when one party to a transaction changes his or her behavior in a way that is hidden from and costly to the other party. C) Adverse selection has the potential to eliminate some markets. D) none of the above