Because of a late night out with friends, Alyssa decided to sle ep in rather than attend her 7:50 a.m. economics class. According to economic analysis, her choice was
a. irrational, because economic analysis suggests you should always attend classes that you have already paid for.
b. irrational, because oversleeping is not in Alyssa's self-interest.
c. rational only if Alyssa has not missed any other classes during the current semester.
d. rational if Alyssa values the additional sleep more highly than the extra benefit she expects to receive from attending the class.
d. rational if Alyssa values the additional sleep more highly than the extra benefit she expects to receive from attending the class.
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Which of the following was an outcome of political disagreement about balancing the federal budget in 2013?
a. a default on treasury bonds b. a two-week government shutdown c. delayed Treasury bond payments d. resignation of several government economists
An increase in aggregate demand leads to the strongest increase in the price index, when the economy is in the:
a. Classical range. b. Keynesian range. c. Intermediate range. d. There is not enough information to tell. e. None of the above.
Which of the following types of income are subject to FICA taxes?
A. Interest earned on checking accounts B. Business profit from the self-employed C. Inheritance D. Profits earned from dividends
Which of the following must occur as a result of ceilings on apartment rents that are set below market clearing rental rates?
A) Property owners respond to the ceilings by increasing maintenance and repairs. B) Property owners respond to the ceilings by constructing new apartment buildings. C) There is a decrease in the quantity of apartments that prospective tenants wish to rent. D) There is a decrease in the quantity of apartments that property owners offer for rent.