The opportunity cost of going to college for a student receiving a scholarship
A. is zero because she does not have to pay tuition.
B. is the risk of dropping out.
C. is the food and living expenses that she has to purchase while in college.
D. is the income that she would have earned if she did not go to college.
Answer: D
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Which of the following will change the slopes of your indifference curves between gasoline and movie rentals?
A) a change in your preferences for either of the two goods B) only a change in the price of either of the two goods C) only a change in your income D) Both a change in the price of either good and a change in income will change the slopes of your indifference curves.
Since the Social Security system began in 1935, the number of workers per retiree has
A) continually declined. B) stayed roughly the same. C) continually risen. D) risen and declined with different generations.
In the simple Keynesian model (no money market) assume that equilibrium output falls short of potential output by 300 units and the MPC = 0.8 . The size of the tax cut needed to reach full employment is
a. 30. b. 60. c. 75. d. 300.
Refer to the labor market in Figure 33.5. Suppose the government imposes a payroll tax on employers. How much of the tax burden is passed on to workers?
A. $8 - $7 = $1 per hour. B. $10 - $7 = $3 per hour. C. $7 per hour. D. $10 - $8 = $2 per hour.