Refer to the scenario above. If Maria's opportunity cost of time increases to $80 per hour, the cost involved in taking the train is:
A) $320.
B) $720.
C) $800.
D) $970.
B
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The above figure shows the production possibility frontier for a country. What is the opportunity cost per ton of rice to move from point B to point D?
A) 500 bottles of wine B) 2 bottles of wine C) 1/2 of a bottle of wine D) 1000 bottles of wine E) None of the above answers is correct.
Suppose your payroll check is directly deposited to your checking account. Everything else held constant, total reserves in the banking system ________ and the monetary base ________
A) remain unchanged; remains unchanged B) remain unchanged; increases C) decrease; increases D) decrease; decreases
Which of the following is NOT part of Keynes's criticism of the classical theory of employment?
A. A reduction in wage rates will lead only to a reduction in total spending, not to an increase in employment. B. Investment spending is not very strongly influenced by the rate of interest. C. Prices and wages are simply not flexible downward in modern capitalistic economies. D. Saving in modern economies depends largely upon the level of disposable income and is little influenced by the rate of interest.
Refer to the graph below for a profit-maximizing monopolist. At equilibrium, the firm will be earning:
A. Positive profits
B. Negative profits
C. Zero profits
D. Profits that cannot be determined from the given graph