Roxanne and Eileen live in an apartment building with a laundry room in the basement. Roxanne does her laundry at home, spending $4 and 5 hours per week. Eileen sends her laundry out, spending $20 and 15 minutes per week transporting the laundry. On the basis of the information given, which one of the following must be true?
a. Roxanne earns more labor income than Eileen.
b. Eileen earns more total income than Roxanne.
c. Roxanne enjoys doing laundry; Eileen does not.
d. Eileen has less laundry than Roxanne.
e. Eileen and Roxanne attach different utilities to time spent doing laundry.
E
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The New York Federal Reserve Bank
A. president always gets to vote at the FOMC meetings. B. conducts open market transactions. C. is one of 12 regional Federal Reserve Banks. D. All of the above are correct.
The net exports effect is the ____ relationship between net exports and the price level of an economy.
A. inverse B. independent C. direct D. linear
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point A to Point D. This could be explained by
A. an increase in economic growth. B. a change in society's preferences for motorcycles versus hybrid cars. C. a reduction in unemployment. D. an improvement in technology.
Which of the diagrams best portrays the effects of a substantial reduction in government spending?
Use the following diagrams for the U.S. economy to answer the following question.
A. A.
B. B.
C. C.
D. D.