A college student's choice of a major and an occupation reflects:
a. each college student's future expectation of wage inflation.
b. a lack of information on the part of the students.
c. a lack of proper education and vocational training.
d. the return on investment in human capital.
e. the opportunity costs each college student faces.
e
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An increase in Meta's wealth from $3,000 to $6,000 raises her utility from 80 units to 100 units. If she is risk averse, with a wealth of $9,000 her utility might be
A) 99 units. B) 114 units. C) 120 units. D) 126 units.
The federal government budget deficits of the late 2000s were driven by:
a. foreign trade deficits. b. increases in government spending. c. declines in tax rates and tax revenue. d. excessive money growth. e. both b and c.
Katarina puts money into an account. One year later she sees that she has 6 percent more dollars and that her money will buy 4 percent more goods
a. The nominal interest rate was 10 percent and the inflation rate was 6 percent. b. The nominal interest rate was 6 percent and the inflation rate was 2 percent. c. The nominal interest rate was 4 percent and the inflation rate was 2 percent. d. The nominal interest rate was 10 percent and the inflation rate was 4 percent.
If the central bank increases the money supply, in the short run, the price level
a. and unemployment rise. b. rises and unemployment falls. c. falls and unemployment rises. d. and unemployment fall.