If a certain household earns and spends $24,000 per year and, on the average, holds a money balance of $6,000, then the velocity of money for this household is:
A. 6.
B. 1/6.
C. 4.
D. 1/4.
C. 4.
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Since the policy will be implemented over time, economists assume that per resident benefits will accrue in increments of $500 (in real terms) at the end of each of the next three years. Find the present value of benefits (PVB) in nominal terms for each resident, assuming an annual inflation rate of 4% and a nominal annual discount rate of 9%.
The Los Angeles area has long been plagued by urban smog. Suppose that one of several ozone-reducing policy options is being evaluated by economists using benefit-cost analysis.
Incremental cost is the same concept as ________ cost
A) average B) marginal C) fixed D) variable
Technology can enable producers to economize on:
a. labor b. capital c. land d. any of the above.
?Kites /hourSnowboards /hourJesse81April123
Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 18.1 shows how much of each good Jesse and April can paint in one hour. Jesse's opportunity cost of painting one kite is painting:
A. 1/12 of a snowboard. B. 1/8 of a snowboard. C. 1/3 of a snowboard. D. 3 snowboards.