Anthony's Accountants is the only employer of accountants in the island of Fairisle. The table gives the demand and supply of accountants on Fairisle. The marginal cost of hiring a sixth accountant is ________ an hour
A) $20
B) $15
C) $25
D) $45
D
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Using the cash balance approach with k = 1/2 and GDP equal to $600 billion, cash balances must be equal to
A) $1200 billion. B) $600 billion. C) $300 billion. D) More information is needed to answer this question.
Which of these activities will most likely impose an external cost?
a. Betty plants flowers in her garden. b. Bonnie gets a flu vaccine. c. Bridget drives her car after having too much alcohol to drink. d. Becky buys a new flat screen television.
The goal of the consumer is to
a. maximize utility. b. be on the highest indifference curve. c. maximize satisfaction. d. All of the above are the goals of the consumer.
Smith says that if government purchases rise by $100 billion, the AD curve will shift to the right. Jones says that if government purchases rise by $100 billion, the AD curve will not shift to the right. It follows that
A) Smith believes there will be zero or complete crowding out and Jones believes there will be complete crowding out. B) Smith believes there will be incomplete or zero crowding out and Jones believes there will be complete crowding out. C) Smith believes there will be complete crowding out and Jones believes there will be zero crowding out. D) Both Smith and Jones believe there will be incomplete crowding out, although Jones believes there will be more incomplete crowding out than Smith believes there will be. E) none of the above