Based on the assumptions in the Application, should Rory hire a gardener or cut the weeds himself?
A) He should hire the gardener because he would save $800.
B) He should cut the weeds himself because he would save $1,000.
C) He should hire the gardener because he would save $1,000.
D) He should cut the weeds himself because he would save $200.
A
You might also like to view...
In the Keynesian model, money is
A) neutral in both the short run and the long run. B) neutral in neither the short run nor the long run. C) neutral in the short run, but not in the long run. D) neutral in the long run, but not in the short run.
Using the Keynesian model, the effect of a decrease in the effective tax rate on capital would be to cause ________ in the real interest rate and ________ in output in the long run
A) an increase; no change B) a decrease; no change C) an increase; an increase D) no change; a decrease
The key objective of purchases by the Federal Reserve of over $1 trillion worth of debt issued by private firms was ________
A) to avoid the bankruptcy of the issuing firms B) to manage expectations C) to prevent such firms from being acquired by foreign companies D) to stimulate spending by firms and households
The factor of production called "labor" can be defined as the:
A. time spent by employees in the production of goods, but not services. B. fraction of total costs spent on people. C. number of worker-hours a business uses at a given time. D. number of people a business has access to at any given time.