A rational decisionmaker
a. ignores marginal changes and focuses instead on "the big picture.".
b. ignores the likely effects of government policies when he or she makes choices.
c. takes an action only if the marginal benefit of that action exceeds the marginal cost of that action.
d. takes an action only if the combined benefits of that action and previous actions exceed the combined costs of that action and previous actions.
c
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When wages increase: a. the quantity of labor supplied by an individual always increases. b. the quantity of labor supplied by an individual always decreases. c. the opportunity cost of leisure time increases
d. the opportunity cost of leisure time decreases.
Regional Bank is subject to a 10 percent required-reserve ratio. If this bank received a new checkable deposit of $1,000 . it could make new loans of
a. $100. b. $900. c. $1,000. d. $10,000.
What is unique about Chinese industrial revolution?
a. It is led by foreign workers b. It is led by international investment c. It is led by rural people through rural industrialization d. It is led by reform leaders. e. none of the above
Cost-push inflation occurs:
A. at or close to full employment. B. because of excess total spending. C. when "too much money is chasing too few goods." D. when there are increases in production costs.