Refer to Figure 23.1. The additional training costs of moving from Level I to Level II are:
A. $260.
B. $440.
C. zero.
D. $180.
Answer: D
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When fiscal policy is used, time lags are variable and last anywhere from
A) one to three weeks. B) one to three months. C) one to three years. D) one to three decades.
While the short-run Phillips curve is upward-sloping, the long-run Phillips curve is downward-sloping
Indicate whether the statement is true or false
The amount of consumption in an economy depends:
a. Inversely on the level of saving b. Directly on the level of disposable income c. Inversely on the level of disposable income d. Directly on the rate of interest
A rational consumer should not consume more of a good when:
A. total utility is decreasing. B. marginal utility is diminishing. C. the price is high. D. income is decreasing.