Refer to Table 1-1. What is Lydia's marginal cost if she decides to stay open for an extra two hours instead of one hour?
A) $10 B) $20 C) $25 D) $40
A
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The opportunity cost of money is:
A. the price level. B. the time spent going to the bank to withdraw funds. C. the nominal interest rate. D. the fees charged by banks to provide checking services.
The theory of investment that links investment spending to stock prices is known as the
A) multiplier model. B) accelerator model. C) neoclassical theory of investment. D) Q-theory of investment.
Goldsmiths who issued receipts for the customer deposits of gold or silver coins were probably the originators of
A) money. B) paper money. C) seignorage. D) Federal Reserve notes.
To ensure that the fundamental identity of national income accounting holds, changes in inventories are
A) treated as part of expenditure. B) treated as part of saving. C) ignored. D) counted as consumption.