Total benefits minus total cost equals:
A. gross benefit.
B. marginal benefit.
C. net benefit.
D. incremental benefit.
C. net benefit.
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A 2005 quarter is called token money because: a. it is legal tender
b. its metal value exceeds its face value. c. there is less than a quarter's worth of metal in it. d. it can be used in the subway. e. it is generally not accepted in exchange.
A computer manufacturer sells laptops to retail stores for $450 each. If the manufacturer pays $200 for all of the components in each laptop and $75 in wages to it's workers, the value added to each computer by manufacturing is
A. $250. B. $75. C. $175. D. $450.
In the labor market, the income and substitution effects work in the same direction.
Answer the following statement true (T) or false (F)
The real interest rate equals the nominal interest rate ________ the inflation rate
A) times B) minus C) divided by D) plus