If the $/yen exchange rate rises, then so does the value of the dollar.
Answer the following statement true (T) or false (F)
False
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Which one of the following changes is consistent with a change in an economy's consumption equation from C = $500 billion + 0.80Y to C = $700 billion + 0.80Y?
a. an increase in income taxes b. an increase in interest rates c. a decrease in induced consumption d. an increase in autonomous consumption e. an increase in savings
If a monopoly lowers its price, its
a. total revenue must increase. b. total revenue must decrease. c. marginal revenue must increase. d. marginal revenue must decrease.
The definition of human capital refers to
A. worker education and workers’ equipment. B. worker education and workers’ physical capital. C. workers’ equipment and workers’ physical capital. D. worker education and worker training.
Jill is unemployed and decides to spend the day at the spa. Jill's opportunity cost of spending a day at the spa is equal to:
a. the daily spa rate, any other monetary expenses, and the value of the best alternative activity in which Jill could be engaged b. her wages had she been working c. zero because she's unemployed d. the daily spa rate and all other monetary expenses associated with her day at the spa such as lunch, drinks, tips, and transportation