Minimum wage adversely affects unskilled workers who do not have work, aged 16 to 19
a. True
b. False
Indicate whether the statement is true or false
True
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Rational ignorance suggests that voters may not spend much time examining candidates before an election because
a. politics is boring b. each voter has virtually no chance of deciding the election c. public choices are not important to society d. candidates are chosen by the electoral college e. candidates are usually so different that it is easy to determine which is better
The price of a can of soft drink is $1.25 and the marginal utility of the second can consumed is 10 utils. The marginal utility of the third hotdog is 4 utils. You should only consume the third hotdog if the price of the hotdog is less than or equal to
A. $0.25. B. $0.625. C. $0.41. D. $0.50.
If the quantity of bank reserves held at the Fed increases, ________
A) the real interest rate increases B) bank deposits decrease C) the number of loans issued by banks decrease D) inflation increases
Explain why equalizing the marginal utility per dollar for all goods maximizes utility
What will be an ideal response?