Refer to Figure 1A.1. If the hours worked per week are 20, the income per week is
A) 50. B) 100. C) 150. D) 200.
C
You might also like to view...
The Bretton Woods agreement was signed at Bretton Woods, New Hampshire, in
A) 1944. B) 1929. C) 1970. D) 1973.
Being paid a wage more than your opportunity costs is an example of
A) economic profit. B) normal profit. C) an accounting cost. D) an efficiency wage.
If consumption of education creates an external benefit, then in order to increase efficiency relative to the outcome determined by private decisions,
a. more education must be produced. b. the same amount of education must be produced, and the price should be lower. c. less education must be produced, and the price should be higher. d. less education must be produced, and the price should be lower. e. less education must be produced at the same price.
If the Federal Reserve sells bonds, the short-run effects will be
a. an increase in the money supply and lower real interest rates. b. a decrease in the money supply and lower real interest rates. c. an increase in the money supply and higher real interest rates. d. a decrease in the money supply and higher real interest rates.