As the real wage rate rises, the opportunity cost of
A) working rises.
B) saving rises.
C) leisure rises.
D) buying goods and services rises.
E) leisure falls.
C
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Using capital budgeting, managers seek to answer which of the following questions?
A) Does the anticipated future cost exceed the profit enjoyed in the current period? B) What is the expected future cost? C) What is the expected future profit? D) Does the anticipated future profit cover the cost incurred in the current period?
Which of the following is not a function of the Federal Reserve System?
a. Supervising the banking system. b. Deciding the maximum interest rates banks can charge for loans. c. Clearing checks. d. Acting as a bank for banks. e. Dealing with financial crises.
When a tax distorts incentives to buyers and sellers so that fewer goods are produced and sold, the tax has
a. increase efficiency b. reduced the price buyers pay c. generated no tax revenue d. caused a deadweight loss
Which of the following statements is true?
A) A worker who shirks work is not an economic agent. B) All economic agents are necessarily individuals. C) A government is an example of an economic agent. D) A street gang is not an economic agent.