Which of the following is not an implicit cost?
A) wages
B) opportunity cost of using an owner's savings
C) owner-provided capital
D) owner-provided labor
A
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The labor supply curve:
A. is made up of firms who want to hire workers at each given wage. B. is made up of workers who want to work for firms at each given wage. C. shows number of firms who are willing and able to hire workers at each given wage. D. shows that the number of firms who want to hire workers decreases as the wage increases.
The quantity theory of money implies that if output and velocity are constant, then a 50 percent increase in the money supply would lead to less than a 50 percent increase in the price level
a. True b. False Indicate whether the statement is true or false
The following are the actual sales for the last six periods:
Period Sales 1 750 2 820 3 600 4 850 5 900 6 700 Using a 3-month moving average, what would be your prediction for period 7?
During the financial crisis of 2007-2009, the U.S. government determined that
a. AIG was too big to fail but Lehman Brothers was not. b. Lehman Brothers was too big to fail but AIG was not. c. both Lehman Brothers and AIG were too big to fail. d. neither Lehman Brothers nor AIG were too big to fail.