Jack buys a computer from Sam, knowing fully well that the technology used in it is obsolete. In this case, the trade is
a. beneficial to both parties.
b. beneficial only to Sam.
c. beneficial only to Jack.
d. not beneficial to either of them.
a
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Which of the following is an example of a positive economic statement?
a. The economy's real output increased at about 3 percent last year and the unemployment rate decreased. b. A central bank should not print too much money because inflation could result. c. Congress should stabilize the social security system by raising taxes now. d. The government farm products surplus should be distributed to the needy.
When the interest rate on alternative investments rise, it becomes costly for the bondholders to retain their bonds with them
a. True b. False Indicate whether the statement is true or false
A firm's labor demand curve shows the relationship between the
a. wage rate and the quantity of labor supplied b. marginal revenue product of labor and the marginal product of labor c. wage rate and the quantity of labor demanded d. marginal product of labor and the quantity of labor demanded e. wage rate and the quantity demanded of the good produced by labor
In the Aggregate Demand - Aggregate Supply diagram in Figure 8.1, Box 3 should be filled with 
A. AS for Aggregate Supply. B. PI for Price Index. C. RGDP for Real Gross Domestic Product. D. AD for Aggregate Demand.