Appeals to fairness can be made by
A. both those in favor of and those against government intervention to reduce inequality.
B. only those against government intervention to reduce inequality.
C. neither those in favor of nor those against government intervention to reduce inequality.
D. only those in favor of government intervention to reduce inequality.
Answer: A
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Suppose you plan to go to school this summer. The cost of tuition and textbooks is $1,400 and housing, board, and entertainment will cost you $500
If you didn't go to school, you'd live in your parents' house for free, but your other living expenses would be about the same. Also, if you didn't go to school you'd work full time and could earn $8,000. You can still work part time while attending the summer school, but you will earn only $3,000. a) What will the summer school cost you in terms of money explicitly paid? b) What are the opportunity costs of going to summer school that you don't pay explicitly? Explain. c) What is your total opportunity costs of going to school this summer? Explain your answer.
You agree to lend $1,000 for one year at a nominal interest rate of 10%. You anticipate that inflation will be 4% over that year. If inflation is instead 3% over that year, which of the following is true?
A) The person who borrowed the $1,000 will be worse off as a result of the unanticipated decrease in inflation. B) The real interest rate you earn on your money will be negative. C) The purchasing power of the money that will be repaid to you will be lower than you expected. D) The real interest rate you earn on your money is lower than you expected.
A nation can forecast the following year's deficit without knowing how fast GDP will grow.
Answer the following statement true (T) or false (F)
Suppose that businesses and consumers become much more optimistic about the future of the economy. To stabilize output, the Federal Reserve could
a. buy bonds to raise interest rates. b. buy bonds to lower interest rates. c. sell bonds to raise interest rates. d. sell bonds to lower interest rates.