Which of the following examples does not illustrate the principle represented by the adage, "There is no such thing as a free lunch"?
a. Melissa needs to pay her rent and her electric bill.
b. Kevin must choose between buying a new flat screen television and buying his textbooks for this semester.
c. Robert must decide between studying for his psychology exam and working at his part-time job.
d. Lisa can spend her money on a new smart phone or on a weekend trip.
a
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If the cheeseburger costs $2, how many cheeseburgers would you buy
a. 1 b. 2 c. 3 d. 4
A decrease in the demand for peanut butter could be caused by a(n)
a. increase in the supply of peanut butter b. increase in the price of peanut butter c. doubling of the price of bread d. drought in Georgia that destroyed 30 percent of the peanut crop e. increase in consumer income
A decrease in the number of producers will shift supply to the left
a. True b. False Indicate whether the statement is true or false
Assume that the government increases spending and finances the expenditures by borrowing in the domestic capital markets. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the real risk-free interest rate and real GDP in the context of the Three-Sector-Model?
a. The real risk-free interest rate rises and real GDP rises. b. The real risk-free interest rate falls, and real GDP rises. c. The real risk-free interest rate rises, and real GDP falls. d. The real risk-free interest rate and real GDP remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.