Identify the correct statement form the following
a. Governance prevents buyers in the market from switching between sellers.
b. The cost of ending a relationship with a buyer in the market is always high for sellers.
c. Goods and the parties involved in market transactions are not interchangeable.
d. At market-clearing prices participants can rest assured that shortages or surpluses will not frustrate their expectations.
D
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If the quantity output and average cost at that output level are known, then it is possible to determine marginal cost for that output level.
Answer the following statement true (T) or false (F)
Jennifer has just finished high school and is deciding whether to start working or go to college. She has already been offered a job that pays $35,000 a year. Four years of college will cost $12,000 each year. She would earn an extra $20,000 each year after she graduates for the 45 years she plans on working until she retires. Assume that the interest rate is 8.5%. Given this information, what should Jennifer do?
A. Take the job B. Go to college C. Take the job until the interest rate goes down and then go to college D. It cannot be determined from the information given.
If the government institutes policies that diminish incentives to save, then in the loanable funds market
a. the demand for loanable funds shifts rightward. b. the demand for loanable funds shifts leftward. c. the supply of loanable funds shifts rightward. d. the supply of loanable funds shifts leftward.
Which of the following is a measure of overall economic well-being for the United States?
A. The U.S. unemployment rate B. U.S. population growth C. The behavior of U.S. monopolies D. The price of fuel in Oregon