The value of an hour of leisure can best be estimated as
A. Total recreational expenditures divided by hours of leisure.
B. Zero since no income is earned.
C. The value of any productive work, although such a value is lower than what could have been earned.
D. The hourly wage that could have been earned.
Answer: D
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The fate of the Second Bank of the United States? It
a. was lauded by Andrew Jackson and eventually became the Federal Reserve b. was viewed as a great success by many southern and western banks c. prospered because it took a positive view towards many speculative land ventures d. disappeared because it could not issue its own notes e. became just another bank in Pennsylvania by 1836
The purpose of the IMF is to:
A. provide developing countries with short-term loans and technical assistance. B. determine monetary and fiscal policy in developing countries. C. determine exchange rates for developing countries. D. buy and sell the currencies of developing countries in order to stabilize their value.
Which of the following contributes to the efficiency of markets?
A) Governments play an active role in the day-to-day operations of markets. B) Markets are able to bring about an equitable distribution of goods and services. C) Markets promote equal standards of living. D) Markets promote competition and voluntary exchange.
To increase the price level the government could
A. increase government spending and encourage immigration. B. decrease government spending and discourage immigration. C. increase government spending and discourage technological advancement. D. decrease government spending and encourage technological advancement.