According to the quantity theory of money, which one of the following economic variables would change in response to an increase in the money supply?
A. prices
B. real income
C. velocity
D. employment
Answer: A
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Refer to the table above. If the opportunity cost of time increases to $60 per hour, renting which apartment will minimize Ryan's total cost every month?
A) 2 B) 3 C) 4 D) 5
You operate a car detailing business with a fixed amount of machinery (capital), but you have recently altered the number of workers that you employ per hour
Three employees can generate an average product of 4 cars per person in each hour, and five employees can generate an average product of 3 cars per person in each hour. What is the marginal product of labor as you increase the labor from three to five employees? A) MP = 3 cars B) MP = 1.5 cars C) MP = 15 cars D) MP = -1 cars
If Mattie wants to discourage Irene from entering the market, what strategy should she follow?
a. Threaten to always accommodate b. Always accommodate c. Threaten to always fight d. All of the above
If the aggregate supply curve shifts leftward, then _____
a. the price level increases and output increases b. the resulting increase in the price level is usually called cost-push inflation c. the resulting increase in the price level is usually called demand-pull inflation d. the price level increases as long as the aggregate demand curve shifts rightward e. the price level decreases and output increases