Jim is planning on attending a football game that costs $40 . He will have to take the day off from the work losing 8 hours of work. His hourly wage is $10 . He estimates it will cost him around $20 for gas and parking at the game. Jim's total economic cost of attending the game equals
a. $80
b. $40
c. $20
d. $140
d
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The free-rider problem is the reason way private markets are unlikely to achieve the efficient level of production of
A) normal goods. B) excludable goods. C) public goods. D) private goods.
In 1976, the cost of a movie was $4. In 2012, it's $9. If the CPI for 1976 is 56, and 228 for 2012, then we could say the cost of a 1976 movie in 2012 would be:
A. $16.29, so the cost of movies has not increased as much as general inflation. B. $16.29, so the cost of movies is relatively more in 2012 than it was in 1976. C. $2.21, so the cost of movies has not increased as much as general inflation. D. $2.21, so the cost of movies is relatively more in 2012 than it was in 1976.
Which of the following is a primary cause of exchange rate movements in the short run?
a. Changes in relative interest rates. b. Changes in expectations of future exchange rates. c. Changes in relative prices. d. Changes in economic conditions such as relative GDPs. e. None of the above.
The earned income tax credit addresses the issue of ______
Fill in the blank(s) with the appropriate word(s).