Consider an economy made up of 100 people, 60 of whom old jobs, 10 of whom are looking for work, and 15 of whom are retired. The number counted as unemployed is:
a. 10.
b. 15.
c. 40.
d. 30.
e. 90.
a
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Refer to Figure 9.2. A movement from point d to point a could be caused by a simultaneous ________ and ________
A) increase in the money supply; massive crop failure B) decrease in the money supply; increase in the price of oil C) decrease in taxes; decrease in the money supply D) decrease in government spending; decrease in the price of oil
Refer to Table 4.2. With which scenario will you be worst off by investing in Japanese bonds instead of U.S. bonds?
A) A B) B C) C D) D
Mike wants to open his own repair shop, and is considering using his savings of $30,000 to get it started. He is currently earning 3 percent interest on his savings. His friend Bob calls him and asks to borrow $30,000 to start up a bagel shop; Bob offers to pay him 5 percent interest if he loans him the money. If Mike were to use the money to open his own repair shop, how can he accurately account for his costs?
A. Mike must consider the $900 in forgone interest on his savings as an implicit cost. B. Mike must consider the $1,500 in forgone interest from loaning the money to Bob as an implicit cost. C. Mike must consider the $900 in forgone interest on his savings as an explicit cost. D. Mike must consider the $1,500 in forgone interest from loaning the money to Bob as an explicit cost.
In the market for widgets, the supply curve is the typical upward-sloping straight line, and the demand curve is the typical downward-sloping straight line. The equilibrium quantity in the market for widgets is 250 per month when there is no tax. Then a tax of $6 per widget is imposed. As a result, the government is able to raise $750 per month in tax revenue. We can conclude that the after-tax
quantity of widgets is a. 75 per month. b. 100 per month. c. 125 per month. d. 150 per month.