The adage, "There is no such thing as a free lunch," means
a. even people on welfare have to pay for food.
b. the cost of living is always increasing.
c. people face tradeoffs.
d. all costs are included in the price of a product.
c
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Krystal runs a nail salon and needs to decide how many hours to stay open. Table 2.2 illustrates her marginal costs of staying open for each additional hour. Suppose that we observe Krystal staying open 2 hours per day
If she is following the marginal principle, what must her marginal benefit be? A) $6 B) $12 C) $15 D) $18
To achieve faster growth, economies can increase income tax rates in order to increase saving rates
Indicate whether the statement is true or false
In order to protect against foreign exchange risk, firms can use
A) the spot market for foreign exchange. B) interest rate arbitrage. C) purchasing power parity. D) the forward market for foreign exchange. E) the J-curve.
Because people's wants are unlimited but resources are scarce,
a. only the rich get everything they want b. choices must be made c. there will be more services produced than goods d. people search for spiritual fulfillment rather than material fulfillment e. poor people never get anything they want