Holding all else fixed, the greater is one's discount rate,
A. the greater is one's wage.
B. the more valuable is education.
C. the fewer years of schooling one completes.
D. the more patient one is.
E. the more years of schooling one completes.
Answer: C
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In the long run, when the Fed increases the quantity of money, the
A) price level falls. B) nominal interest rate falls. C) price level rises. D) real interest rate rises. E) demand for money decreases.
To maximize its profit, a firm will hire more workers as long as
A) marginal revenue exceeds the wage rate. B) marginal revenue is less than the wage rate. C) value of marginal product exceeds the wage rate. D) marginal product exceeds the wage rate.
What determines how much market power a firm has?
What will be an ideal response?
How does private information create adverse selection and moral hazard?
What will be an ideal response?