When Benjamin Franklin wrote, "Remember that time is money!" he understood
What will be an ideal response?
the concept of opportunity cost.
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An increase in government expenditure on goods and services
A) increases aggregate demand. B) increases the aggregate quantity demanded. C) decreases the aggregate quantity demanded. D) decreases aggregate demand.
What is meant by the "law of one price"? In discussing the law of demand, Hubbard and O'Brien claim there has been no evidence of an exception to the law (that is, no evidence of an upward-sloping demand curve)
Are there exceptions to the law of one price?
The "underground economy" is also referred to as
A) the informal sector. B) the halfway economy. C) the net domestic product economy. D) the formal sector.
A college education can be a signal because
A) a college education is expensive. B) those who graduate college have successful parents, and are therefore also likely to be successful. C) highly capable people are more likely to finish college than those with low capabilities. D) college teaches useful skills and gives valuable training.