What is the opportunity cost of going from point A to point B?
15 PCs
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The rate of interest that a bank states as its interest rate is the real rate of interest
Indicate whether the statement is true or false
An inferior good is a good for which the quantity demanded decreases as the price increases, holding everything else constant
Indicate whether the statement is true or false
Accounting that relates how growth in inputs of production are related to growth in output is called:
A. input to output accounting. B. national income accounting. C. production accounting. D. growth accounting.
Suppose that the labor market for life guards is initially in equilibrium. Whistles are an important safety tool that life guards use as a part of their jobs. A fire destroys the largest factory that produces whistles. In the market for life guards the equilibrium wage
a. increases because the marginal productivity of life guards increases. b. decreases because the marginal productivity of life guards decreases. c. increases because the supply of life guards increases. d. decreases because the supply of life guards decreases.