Refer to Figure 2-18. Which two arrows in the diagram depict the following transaction: Dorian Gray hires "Wild Oscar," a professional portrait artist, to paint his picture
A) J and M B) K and G C) K and M D) J and G
B
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According to the Bureau of Labor Statistics, the time spent working on days worked is
A) longer for men than it is for women. B) longer for women than it is for men. C) roughly equal for all men and women. D) roughly equal for men and women closer to age 45, but longer for women closer to retirement age than for men closer to retirement age.
Refer to Table 2-18. What is Minnie's opportunity cost of making a hat?
A) 1/5 of an umbrella B) 1/4 of an umbrella C) 4 umbrellas D) 10 umbrellas
A temporary decrease in government purchases causes the real interest rate to ________ and the price level to ________ in general equilibrium
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Americans generally pay
A. a lower percentage of their incomes in taxes than citizens of other industrialized countries. B. a lower percentage of their incomes in taxes than citizens of other industrialized countries, with the exceptions of Sweden and the Netherlands. C. about the same percentage of their incomes in taxes as citizens of other industrialized countries. D. a higher percentage of their incomes in taxes than citizens of other industrialized countries.