In Figure 35.1, what is the opportunity cost of motorcycles in the United States?
A. 2 DVD players per motorcycle.
B. 1/2 of a DVD player per motorcycle.
C. 1/3 of a DVD player per motorcycle.
D. 1 DVD player per motorcycle.
Answer: D
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The table below shows the relationship between the number of times you get your car washed each month and your total monthly benefit from car washes. Each car wash costs $15.Number ofCar WashesPer MonthTotal MonthlyBenefit fromCar Washes0$01$202$363$484$565$60What's the average benefit of 4 car washes per month?
A. $12 B. $4 C. $14 D. $8
If an increase in autonomous consumption spending of $25 million results in a $100 million increase in equilibrium real GDP, then
A) the MPC is 0.25. B) the MPC is 0.75. C) the MPC is 0.8. D) the MPC is 2.5.
Jake just quit his job as a shoe salesman and is looking for work as an accountant, which is what his college degree is in. Jake would be considered:
A. frictionally unemployed. B. structurally unemployed C. cyclically unemployed. D. Jake is not in the labor force.
If $30 billion in new investment was added to the economy and MPC was 0.90, real GDP would increase by:
a. $30 billion. b. $90 billion. c. $100 billion. d. $210 billion. e. $300 billion.