Which of the following is included in the study of macroeconomics?
A. wage rate of Ford's assembly-line workers
B. prices of automobiles
C. unemployment in the nation
D. price of silver and gold
Answer: C
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Which of the following would an economist classify as physical capital?
a. 100 shares of IBM stock b. a $50 bill c. a credit card d. a lawyer's computer
A famous opera star made $2 million per year. He said he would rather sell insurance if he couldn't make more than $100,000 per year. If he is telling the truth, what's his opportunity cost as an opera star?
A) $2.0 million B) $100,000 C) $1.9 million D) $2.1 million
Suppose that a disease that affects people who consume beef has been discovered in the United States. One likely result is:
A. a decrease in demand for beef. B. a decrease in the quantity demanded of beef. C. an increase in buyers' reservation prices for beef. D. a decrease in demand for chicken.
The Coase bargaining solution is named after:
A. Ronald Coase. B. John Coase. C. William G. Coase. D. Alexander Coase.