When economists value rewards that will be experienced in the future, they multiply the reward by a:
A) positive factor more than 1.
B) positive factor less than 1.
C) negative factor more than -1.
D) negative factor less than -1.
B
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Brett buys a new cell phone for $100. He receives consumer surplus of $80 from the purchase. How much does Brett value his cell phone?
A) $180 B) $100 C) $80 D) $20
Refer to Table 16-2. How many tubes of toothpaste will Neem sell in Middle Fall and at what price?
A) Q = 4 units; P = $5 B) Q = 2 units; P = $7 C) Q = 3 units; P = $6 D) Q = 5 units; P = $4
In the above figure, assume the economy starts out in equilibrium at point d. If the Fed increases the money supply so that the new aggregate demand curve is AD3, then the long-run equilibrium will be at point
A) a. B) b. C) c. D) i.
GDP is a good measure of economic well-being for all purposes
a. True b. False Indicate whether the statement is true or false