The opportunity cost of attending college for one year is best measured by the:
A. benefit received by the student.
B. tuition paid for the year.
C. total money expenses associated with attending college.
D. value of the next-best activity forgone by attending college.
Answer: D
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Refer to Figure 23-1. According to the figure above, at what point is aggregate expenditure less than GDP?
A) J B) K C) L D) none of the above
An unexpected fall in Retail Sales should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
Suppose that due to a poor economy, 1 million workers lost their jobs, causing the unemployment rate to increase to 10%. After a few months of searching, 300,000 of these unemployed workers give up looking for work. How would the decision by these 300,000 people affect the unemployment rate, all else equal?
A) The unemployment rate would remain unchanged. B) There is not enough information to answer this question. C) The unemployment rate would increase. D) The unemployment rate would decrease.
Explain what is meant by liquidity preference
What will be an ideal response?