Refer to Table 2-4. What is Jack's opportunity cost of mowing a lawn?
A) one-half of a garden cultivated B) two lawns mowed
C) two-thirds of a garden cultivated D) one and a half lawns mowed
C
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Purchases of new plants and equipment plus any desired changes in business inventories are
A. Economic investment. B. Actual investment. C. Undesired investment. D. Desired investment.
If real disposable income increases, the average propensity to save will
A. decrease. B. initially increase, and then decrease. C. increase. D. remain constant.
According to this Application, the Fed increased its lending by hundreds of billions of dollars to financial institutions as a response to the ongoing financial crisis
This increase in loans to financial institutions increased the supply of money in the economy. When the supply of money increases, the money supply curve will A) shift to the right, increasing the interest rate. B) shift to the left, increasing the interest rate. C) shift to the right, decreasing the interest rate. D) shift to the left, decreasing the interest rate.
The idea that it takes 90 percent of your time to clean up the last 10 percent of your house illustrates that
A) the marginal cost of cleaning up slopes downward. B) the marginal cost of cleaning up slopes upward. C) the marginal benefit of cleaning up is constant. D) the marginal benefit of cleaning up slopes upward.