Oral contraception allows women of childbearing age to do all of the following EXCEPT:
A. remain in school.
B. work more in the paid labor force.
C. earn as much as men of the same age.
D. pursue longer-term careers.
Answer: C. earn as much as men of the same age.
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Real consumption is a function of real disposable income, but the simple Keynesian model uses real GDP instead of real disposable income. This is appropriate since
A) we cannot measure either exactly and the purpose of the exercise is theoretical only. B) real disposable income tends to move proportionately with real GDP. C) real disposable income is a fixed percentage of real GDP. D) real GDP is a fixed percentage of real disposable income.
The table above shows Mary's utility from chips and soda. The table shows that
A) Mary prefers sodas to chips. B) Mary will consume no soda and only chips. C) Mary's marginal utility decreases as she consumes more chips. D) Mary's total utility decreases as she consumes more chips.
The lowest price Jacob will accept from Harold for a bushel of corn produced in his farm is $5 . The transaction will go through if:
a. Harold's valuation is less than Jacob's. b. Harold's valuation is greater than $5. c. Jacob's opportunity cost is greater than Harold's. d. Jacob's opportunity cost is equal to Harold's.
How can economies of scale lead to monopoly?