If Melanie's marginal benefit as a consumer in the jeans market is larger than the price of a pair of jeans,
a. Melanie will not purchase any more jeans.
b. Melanie can benefit by purchasing more jeans.
c. the opportunity cost of a pair of jeans is lower than the price.
d. Melanie will decrease her total utility by purchasing more jeans.
B
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When a bank takes money that you put in your checking account and gives it to someone else, at a cost, for a period of time, it is said to be
A) making a loan. B) making a deposit. C) internalizing an externality. D) creating commodity money.
Which of the following events would increase the price elasticity of demand for Chicago Bears tickets that sell at a price of $20?
a. b and c. b. The Bears are having a successful season. c. The visiting team is having a successful season. d. The Bears have been defeated in their previous seven games. e. The weather on game day will be warm.
Pay as you go financing for the Social Security System was abandoned in 1983
a. True b. False Indicate whether the statement is true or false
How would a decrease in the natural rate of unemployment affect the long-run Phillips curve?
a. It would shift the long-run Phillips curve right. b. It would shift the long-run Phillips curve left. c. There would be an upward movement along a given long-run Phillips curve. d. There would be a downward movement along a given long-run Philips curve.