________ saw the home as a workplace which could be made more efficient. Her husband Frank (an efficiency expert in factories) wrote a book about their marriage and twelve children, Cheaper by the Dozen, which has been made into movies
a. Eleanor Shively
b. Evelyn Draper
c. Ellen R. Richards
d. Lillian Gilbreth
D
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Value is
A) the price we pay for a good. B) the cost of resources used to produce a good. C) objective so that it is determined by market forces, not preferences. D) the marginal benefit we get from consuming another unit of a good or service. E) the difference between the price paid for a good and the marginal cost of producing that unit of the good.
A used car was recently priced at $20,000.00. Seeing the car, Bobby thought, "It's nice, but if I have to pay more than $19,500 for this car, then I would rather do without it." After negotiations, Bobby purchased the car for $19,250.00
His consumer surplus was equal to A) $19,500.00. B) $1,750.00. C) $250.00. D) $0.00.
Which of the following statements is likely to be made by an economist who does not believe in activist monetary policy? (1 ) The more closely monetary policy can he designed to meet the particulars of a given economic environment, the better. (2 ) Because of long and uncertain time lags, activist monetary policy may be destabilizing rather than stabilizing. (3 ) There is sufficient flexibility
in wages and prices in modern economies to allow the economy to equilibrate in reasonable speed at the natural level of Real GDP, (4 ) The "same-for-all-seasons" monetary policy is the way to proceed. (5 ) There is evidence that monetary policy in the mid-1970s caused a recession. A) (1), (2), and (3) B) (1), (4), and (5) C) (2), (3), and (4) D) (3), (4), and (5) E) (1 ) only
It is possible for a merger to result in lower prices for consumers.
Answer the following statement true (T) or false (F)