Which of the following should not be considered as an opportunity cost of attending college?
a. Expenses that are the same whether or not you attend college
b. Lost salary
c. Business lunches
d. Interest that could have been earned on your money had you put the money into a savings account, rather than spent it on tuition
e. Opportunities sacrificed in the decision to attend college
a
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If the target exchange rate is 100 yen per dollar and the current exchange rate is 90 yen per dollar, the Fed will
A) sell dollars and the demand for dollars will increase. B) sell dollars and the demand for dollars will decrease. C) buy dollars and the demand for dollars will increase. D) buy dollars and the demand for dollars will decrease.
Refer to Table 4-1. The table above lists the highest prices three consumers, Tom, Dick, and Harriet, are willing to pay for a short-sleeved polo shirt. If the price of one of the shirts is $28 dollars
A) Tom will receive $12 of consumer surplus from buying one shirt. B) Harriet will receive $25 of consumer surplus since she will buy no shirts. C) Tom will buy two shirts, Dick will buy one shirt and Harriet will buy no shirts. D) Tom and Dick receive a total of $70 of consumer surplus from buying one shirt each. Harriet will buy no shirts.
A. What are the two effects of an increase in the wage rate on an individual's labor supply decision? Briefly explain each effect
b. Explain how a labor supply curve could be backward bending. What will be an ideal response?
The rapid depreciation in the dollar from 1985 to 1987 caused net exports during this period
A) to rise as the J curve would have predicted, but with a short lag (less than one year). B) to rise as the J curve would have predicted, but with a long lag (more than one year). C) to fall as the J curve would have predicted, but with a short lag (less than one year). D) to fall as the J curve would have predicted, but with a long lag (more than one year).