Which of the following can be used as money?
A. checks
B. cigarettes
C. precious stones
D. All of these
Answer: D
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Huey has eaten two hamburgers and is considering a third. The marginal benefit in his decision is the pleasure from consuming
A) the two previous hamburgers. B) all three hamburgers. C) just the third hamburger. D) just the second hamburger. E) the third hamburger minus the pleasure from consuming zero hamburgers.
Economic growth depends more on technological change than on increases on capital per hour worked
Indicate whether the statement is true or false
Which of the following would shift the supply curve for a good to the left?
a. an increase in the price of that good b. a decrease in the price of an alternative good c. an improvement in technology for producing that good d. an increase in the cost of an important resource used to make that good e. an increase in the number of producers
Which of the following is a linear demand function?
A. Qxd = ?0 + ?XPX2 + ?YPY2 + ?MM2 + ?MH2. B. Qxd = ?PX?X PY?Y M?M H?H. C. Qxd = ? + ?X log PX + ?Y log PY + ?M log M + ?M log H. D. Qxd = ?0 + ?XPX + ?YPY + ?MM + ?HH.