Money is functioning as a store of value when you
A. Save your cash to pay for tuition next semester.
B. Pay your tuition in installments rather than all at one time.
C. Take out a student loan to buy books.
D. Use it to compare the cost of tuition 10 years ago to the cost today.
Answer: A
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Suppose that you can schedule a worker for up to 4 hours per day. The total benefit and total cost functions are B(H) = 1,300H - 20H2 and C(H) = 500H + 60H2. The corresponding formulas for marginal benefit and marginal cost are MB(H) = 1,300 - 40H and MC(H) = 500 + 120H. For how many hours should you schedule the worker?
A. 11.25 hours B. 2.5 hours C. 5 hours D. 0 hours
On May 12, 2011, it cost U.S. $1.64 to buy 1 British pound. How many British pounds would U.S. $1 buy?
A. 0.56 B. 0.61 C. 1.64 D. 2.64
An article in the Wall Street Journal in early 2001 noted two developments in the market for laser eye surgery. The first development concerned side effects from the surgery, including blurred vision
The second development was that the companies renting eye-surgery machinery to doctors had reduced their charges. In the market for laser eye surgeries, these two developments A) decreased demand and increased supply resulting in an increase in both the equilibrium quantity and the equilibrium price of laser eye surgeries. B) decreased demand and increased supply, resulting in a decrease in both the equilibrium price and the equilibrium quantity of laser eye surgeries. C) decreased demand and decreased supply, resulting in a decrease in the equilibrium quantity and an increase in the equilibrium price of laser eye surgeries. D) decreased demand and increased supply, resulting in a decrease in the equilibrium price and an uncertain effect on the equilibrium quantity of laser eye surgeries.
If you made a wish list of things you wanted but did not now have, they you became able to have the things on that list, scarcity would be eliminated
a. True b. False Indicate whether the statement is true or false