John is trying to decide how to divide his time between his job as a stocker in the local grocery store, which pays $7 per hour for as many hours as he chooses to work, and cleaning windows for the businesses downtown. He makes $2 for every window he cleans. John is indifferent between the two tasks, and the number of windows he can clean depends on how many hours he spends cleaning in a day, as shown in the accompanying table.Time cleaning windows (hours/day)Total number of windows cleaned0017211314416517 How many hours a day should John spend cleaning windows?
A. 2
B. 3
C. 4
D. 1
Answer: A
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When benefit-cost analysis is used to facilitate U.S. public policy decisions,
a. the discount rate is selectedby the individual policy maker b. no adjustment can be made for inflation, since the inflation rate is not known in advance c. the discount rate used should reflect the social opportunity cost of funds d. only incremental costs are adjusted for time differences
An economy that contains a mixture of perfect and imperfect competition and of regulated and unregulated industries is a
a. command economy. b. mixed economy. c. traditional economy. d. laissez-faire economy.
A substantial increase in marginal tax rates will most likely encourage individuals to choose: a. to work more overtime
b. to invest more. c. to spend more of their scarce resources looking for tax shelters. d. none of the above.
When there is an increase in the real interest rate in Japan, the Japanese yen will depreciate
a. True b. False Indicate whether the statement is true or false