Using the table above, for which of the following levels of employment does the marginal product of labor exceed the average product of labor at Decent Donuts?
A) four workers
B) seven workers
C) both of the above
D) neither of the above
A
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A person who is risk-neutral will
A) pay a small risk premium when making a choice. B) pick a slightly less risky option with a slightly lower expected value. C) pick the option with the highest expected value. D) None of the above.
A bond issuer agrees to pay a stated nominal amount each year. An increase in the nominal interest rate will cause
A) the price of the bond to fall. B) the price of the bond to rise. C) the nominal value of the bond's coupon to rise. D) the nominal value of the bond's coupon to fall.
Assume that tortilla chips and salsa are complements. When the price of tortilla chips decreases:
A. the demand for salsa increases. B. the demand for salsa decreases. C. the supply of salsa decreases. D. the demand for tortilla chips decreases.
"Because the nominal interest rate is the opportunity cost of holding money, the supply curve of money slopes downward." Is the previous statement correct or incorrect?
What will be an ideal response?