Assuming an entrepreneur does not pay herself, the $1,000 she could earn as an employee elsewhere is considered
A. An implicit cost.
B. An explicit cost.
C. A variable cost.
D. A fixed cost.
Answer: A
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One major advantage to a fixed exchange rate system is
A) that exchange rate volatility is eliminated. B) that hedging strategies can be implemented. C) that fixed exchange rate nations seldom have credit risk problems. D) that systemic risk is eliminated.
The idea behind Say's Law is that people work because:
A. work gives them social status. B. they like to work. C. they want to buy things. D. they want to accumulate wealth.
Discouraged workers are people who want to work but have given up trying to find a job after an unsuccessful search
a. True b. False Indicate whether the statement is true or false
The ________ impact of a negative aggregate demand shock is ________ when the government does not target the deficit because targeting the deficit causes further negative aggregate demand shocks.
A. adverse; reduced B. neutral; reduced C. adverse; increased D. neutral; increased