When a slice of pizza at the student union sold for $2, Moe did not purchase any. When the price fell to $1.75, Moe purchased a slice each day for lunch. Thus, we can infer that Moe's reservation price for a slice of pizza is:
A. at least $1.75 but less than $2.
B. less than $1.75.
C. exactly $2.00.
D. exactly $1.75.
Answer: A
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Which of the following unemployment types is the major concern of macroeconomics?
a. Structural unemployment b. Cyclical unemployment. c. Underemployment d. None of the above. e. Seasonal unemployment.
Suppose one worker in New Ralph Island can produce 40 walking sticks or 10 boomerangs each hour. The opportunity cost of producing 1 walking stick is _____.?
Fill in the blank(s) with the appropriate word(s).
Human capital includes investments in education and skills.
Answer the following statement true (T) or false (F)
Use the following figure for the federal funds market to answer the next question.
If the Fed supplies $300 billion in reserves, the equilibrium federal funds rate is ________.
A. 5.0% B. 6.0% C. 5.5% D. Undeterminable with the information given.