Amy's opportunity cost of going to the movies is
A) the price of the ticket.
B) zero, if she has a free pass to the movie.
C) the price of the ticket plus the value to Amy of what she would have chosen to do with her time had she not chosen to go to the movies.
D) both b and c
C
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As of the end of 1994 the country in our survey with the smallest stock market in dollar terms was
A) the United States. B) the United Kingdom. C) Japan. D) Germany.
Which of the following is true? a. If minimum wage is set below the equilibrium wage, it leads to a labor surplus
b. If anything interferes with the voluntary exchanges that make up a market, equilibrium does not occur. c. Minimum wage helps deal with the problem of unemployment in the market for unskilled labor. d. Producers are willing to employ more labor at a minimum wage. e. Minimum wage leads to a situation of labor deficit in a market.
The amount of wealth that an individual wishes to hold as money is determined by
a. the price level b. the price level and real income c. real income d. real income and the interest rate e. the price level, real income, and the interest rate
Between 2013 and 2014, the government estimates that disposable income in the US decreased. Consequently, as a result of this change, consumption expenditure
a) remained constant b) decreased c) increased d) more information is needed about how taxes changed between 2013 and 2014