About how many Americans still live on farms today?
A. 4.5 million
B. 14.5 million
C. 24.5 million
D. 34.5 million
A. 4.5 million
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Suppose you go to a wedding reception that has free drinks. What is likely to be the marginal utility of the last drink you had?
a. infinite b. 0 c. 1 d. less than 0 e. greater than 1
Assume the Fed decreases the money supply and the demand for money curve is fixed. In response, people will:
A. sell bonds, thus driving up the interest rate. B. buy bonds, thus driving down the interest rate. C. buy bonds, thus driving up the interest rate. D. sell bonds, thus driving down the interest rate.
Which one of the following would likely reduce the level of structural unemployment?
A. increasing the level of union bargaining power B. reducing unemployment insurance benefits C. increasing the minimum wage to encourage more people to work D. strengthening restrictions on who can be licensed to enter certain professions
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point A necessarily represents
A. only hybrid cars being produced. B. an unattainable production point. C. what society wants. D. the economy's optimal production point.