Suppose your expenses for this term are as follows: tuition: $28,000, room and board: $9,000, books and other educational supplies: $2,500
Further, during the term, you can only work part-time and earn $16,000 instead of your full-time salary of $42,000. What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college?
A) $36,500 B) $56,500 C) $65,500 D) $72,500
B
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Consider the demand curves for soft drinks shown in the figure above. Suppose the economy is at point a. Which of the following could result in a movement to point c?
A) a decrease in income B) an increase in the relative price of a soft drink C) a decrease in the relative price of a soft drink D) a decrease in the price of bottled water
A major reason for regulating the financial sector is to facilitate __________ policy
A) monetary B) fiscal C) antitrust D) merger
The "no shirking constraint" (NSC) curve is
A) downward-sloping to reflect the fact that at higher wages, firms will monitor workers more to see whether they are shirking. B) downward-sloping to reflect the fact that shirking tends to be higher in lower-paying industries. C) upward-sloping because at high levels of unemployment, workers will refrain from slacking without much other incentive. D) upward-sloping because at high levels of employment, many "slacking" individuals have been hired. E) vertical because the constraint represents the absolute amount of time a firm will tolerate workers' slacking without laying them off.
When two variables have a positive correlation,
a. when the x-variable increases, the y-variable decreases. b. when the x-variable decreases, the y-variable increases. c. when the x-variable increases, the y-variable increases. d. More than one of the above is correct.