John is trying to decide how to divide his time between his job as a stocker in the local grocery store, which pays $7 per hour for as many hours as he chooses to work, and cleaning windows for the businesses downtown. He makes $2 for every window he cleans. John is indifferent between the two tasks, and the number of windows he can clean depends on how many hours he spends cleaning in a day, as shown in the table below:Hours PerDay CleaningWindowsTotal Numberof WindowsCleaned0017211314416517How many hours a day should John spend cleaning windows?
A. 1
B. 2
C. 3
D. 4
Answer: B
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Refer to the scenario above. If both firms operate without government intervention:
A) total costs are maximized. B) total profits are maximized. C) marginal revenues of both the firms are maximized. D) marginal revenues of both the firms are minimized.
A tax is considered to be independent of: a. investment
b. consumption. c. government spending. d. real GDP. e. the price level.
The ________ interest is the relevant interest rate in the money market; the __________ interest rate is the relevant interest rate in the loanable funds market
a. Nominal; nominal. b. Nominal; real c. Real; nominal d. Real; real
Command-and-control policies lead to higher prices for consumers than pollution taxes do.
Answer the following statement true (T) or false (F)