Which statement uses the term ceteris paribus correctly?
A) If you exercise regularly, you will be healthier, ceteris paribus.
B) Blue is to green, ceteris paribus, as red is to purple.
C) Most people consider Sunday to be the first day of the week, ceteris paribus.
D) Interest rates usually rise in October, ceteris paribus.
E) a and d
A
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Andrew's utility of wealth schedule is depicted in the above table. Andrew is offered a job as a cook which pays $10,000. He is also offered a job as a server which will pay $5,000 if tips are poor and $15,000 if tips are good
There is a 50 percent chance that tips will be poor and a 50 percent chance that tips will be good. Given the nature of Andrew's job offers and his utility of wealth schedule, Andrew will A) accept the offer to work as a server. B) accept the offer to work as a cook. C) be indifferent between working as a cook or a server. D) be unable to reach a decision about which offer to accept.
The intended gains from U.S. tariffs and other trade restrictions can backfire if foreign governments retaliate by imposing additional trade restrictions on U.S. goods sold in their countries
a. True b. False Indicate whether the statement is true or false
Table 21.4Output (Units per Day)Total Cost (Dollars per Day)016130242358478For the output levels in Table 21.4, the minimum of the average total cost curve occurs at a production rate of
A. 2 units per day. B. Zero units per day. C. 3 units per day. D. 4 units per day.
In the classical model, the interest rate will adjust to equate
A. saving with investment. B. the economic growth rate with the growth rate of import spending. C. export spending with import spending. D. consumption spending with real GDP.