Suppose that a college student receives an offer for a summer internship with a stock brokerage firm. Unfortunately for the student, the internship is unpaid. Is it ever economically beneficial to accept an unpaid job?
a. Yes, because the experience gained during the internship would increase the student's human capital.
b. No, because the opportunity cost is too high.
c. No, because the student is signaling to future employers that he or she is willing to accept low wages.
d. Yes, because accepting an unpaid job signals to future employers that the student has stable personal finances.
a
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Refer to Figure 2-5. If the economy is currently producing at point Y, what is the opportunity cost of moving to point X?
A) 5 million tons of paper B) 19 million tons of steel C) 9 million tons of paper D) 5 million tons of steel
Explain using welfare measures whether consumers prefer a single price monopoly or a perfect-price-discriminating monopoly
What will be an ideal response?
Under the Bretton Woods agreement, the officially determined value of a country's currency is referred to as its
A) GDP. B) par value. C) exchange rate. D) value-to-weight ratio.
Which of the following examples would most likely enable a landlord to raise the rent for a rent-controlled apartment?
a. Cockroaches invest the apartment’s kitchen. b. The U.S. cost of living increases by 5 percent in one month. c. The pipes for the apartment’s kitchen sink spring a leak. d. The rents in a nearby apartment building increase.