Credit cards are a medium of exchange
a. True
b. False
Indicate whether the statement is true or false
False
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The neoclassical perspective places more emphasis on
a. supply. b. demand. c. aggregate supply. d. aggregate demand.
When there are positive externalities in the consumption of a good:
a. marginal social benefit exceeds marginal private benefit. b. the marginal social benefit curve lies below the private market demand curve. c. the socially optimal level of output exceeds the private market equilibrium quantity. d. public policy aims to lower the level of output below the private optimum.
When a country's ability to maintain its fixed exchange rate is doubted by investors:
A. it may fall under a speculative attack. B. the value of its currency tends to appreciate too quickly. C. the exchange rate is likely to spiral upward, out of control. D. All of these statements are true.
In the above table, if the marginal factor cost is $48, how many workers would be hired?
A) 3 B) 4 C) 5 D) 6