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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The real interest rate equals the nominal interest rate ________ the inflation rate
A) times B) minus C) divided by D) plus
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)