Which of the following would be likely to raise your opportunity cost of attending a big basketball game this Sunday night?
a. A friend calls you up and offers you free tickets to a concert by one of your favorite bands on Sunday night.
b. Your employer offered you double your usual wage to work this Sunday night
c. Late Friday afternoon, your physics professor makes a surprise announcement that there will be a major exam on Monday morning.
d. All of the above would likely raise the opportunity cost of attending the game.
d
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The public debt is
A) an excess of government spending over government revenues during a given time period. B) all federal government debt irrespective of who owns it. C) a situation in which the government's spending is exactly equal to the total taxes and other revenues it collects during a given time period. D) the total value of all outstanding federal government securities.
If the value of the marginal product of a worker is $20 and the market price of the good he produces is $5, his marginal product is:
A) 4 units. B) 10 units. C) 25 units. D) 100 units.
In the United States, the strategy of monetary policy
a. has not changed even as the economic environment has varied. b. has been to target interest rates. c. has been to target the money supply. d. None of the above
Most countries:
A. protect cartels. B. have laws against firms making agreements about prices or quantities. C. protect oligopoly markets. D. force monopolists to become duopolists.