Sam has two jobs, one for the winter and one for the summer. In the winter, he works as a lift attendant at a ski resort where he earns $13 per hour. During the summer, he drives a tour bus around the ski resort, earning $11 per hour. During the summer months, what is Sam's opportunity cost of taking an hour off work to go hiking?
a. $13
b. between $11 and $12
c. $11
d. less than $11
c
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Assuming plasma TVs are a normal good, an increase in consumer incomes will lead to
A) a rightward shift of the demand curve for plasma TVs. B) a movement upward along the demand curve for plasma TVs. C) a rightward shift of the supply curve for plasma TVs. D) no change of the demand curve for plasma TVs.
Bonds owned by financial institutions represent ownership of the national debt by the private sector
a. True b. False Indicate whether the statement is true or false
Neoclassical economists believe that the government fosters economic growth by providing a stable economic environment with a low rate of ____________ and tax rates that are low and unchanging.
a. importing b. growth c. unemployment d. inflation
The main reason for the decline in real wages in the 1970s and 1980s was our __________.
Fill in the blank(s) with the appropriate word(s).