The additional benefit incurred when undertaking an activity is the ________ benefit
A) total
B) gross
C) marginal
D) explicit
C
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In the 1990s, the Danish government passed laws tightening eligibility requirements for receiving unemployment benefits. What happened in Denmark as a result of this policy change?
a. The size of the labor force declined b. The unemployment rate decreased c. More teenagers entered the labor force d. The wage rate increased e. The natural rate of unemployment increased
An individual bank can lend out at most its
a. actual reserves b. fractional reserves c. legal reserves d. demand deposits e. excess reserves
In the circular flow of income model injections:
a) Are assumed to be exogeneous (independent of national income) b) Are assumed to be a function of national income c) Decrease aggregate demand d) Decrease the investment into an economy
For complements:
A. price elasticity of income is positive. B. price elasticity of income is negative. C. cross-price elasticity of demand is negative. D. cross-price elasticity of demand is positive.