D three hours per day you spend on studying. B 10 hours of his time more than the 20 percentage points. He has decided to go to the gym and then study for several hours. C factors that explain changes in the unemployment rate over time. B working out at the gym. D the person must concentrate on the activity's total benefits. Every topic in economics is either a microeconomic or a macroeconomic issue; a topic cannot be both.
B the value of working or skiing, depending on which you would have done rather than go to Hawaii. C the choices we make because of scarcity. Which of the following statements is true? D is the benefit the owner receives from staying open from 8 a. What does this economist mean? You want a higher grade and decide to study for an extra hour a day. B investment in human capital.
They can be tested as to their truthfulness. C not make the post hoc fallacy. The basic difference between macroeconomics and microeconomics is: A. Her marginal benefit from another hour of exercise A is the benefit she gets from all the hours she's worked out all week. B total cost of an activity. A The reasons why Kathy buys less orange juice.
The Pumpkin Center State Bank increased its interest rate on consumer loans by 1 percentage point. Dell's managers A should approve producing 4,000 more laptops because this will result in a substantial total profit. D Instruments, machines, and buildings used in production. Tools, equipment, means of transportation D. C studying the determination of wages and production costs in the software industry. C sleep she gave up. Some years ago, chemists at 3M Corporation were trying to create a super-strong glue.
D macroeconomics focuses on the national economy and the global economy. You now decide to study economics two hours a day. B production possibilities are unlimited. B is the benefit she receives from exercising the additional hour. B going to the symphony. D depends on the cost of the workout.
B the effort of farmers raising cattle. Suppose you decide to go to the library. Points A, B, C, D, and E show: A. B The distribution of income is fair. B the time worked by elementary school teachers. A How a rise in the price of sugar affects the market for sodas. They describe what is believed about how the world appears.
C choosing at the margin. B land, labor, capital and entrepreneurship. B government decision making concerning farm price supports. If any of a person's decisions have poor results, that person is irrational b yes, as long as Sara didn't intentionally purchase blister- causing shoes c no. B arises from the fact that our wants exceed available resources. B the forgone alternatives' costs must be increased.
A An unemployment rate of 9 percent is a national disgrace. Dependent variables graph as upsloping lines; independent variables graph as downsloping lines. C people can satisfy all their wants. D the effects on Ford Motor of a strike by the United Auto Workers. C of the inefficient choices we make. A The United States produces more goods than services.
C the effect government regulation has on the price of a product. For these data the law of increasing opportunity costs is reflected in the fact that: A. A your marginal cost of studying economics for an hour must have exceeded its marginal benefit B the marginal cost of studying economics must have fallen C your marginal benefit from studying economics an hour must have been greater than its marginal cost D the opportunity cost of studying economics must have risen. A More goods are produced than services. Microeconomics focuses on specific decision-making units of the economy; macroeconomics examines the economy as a whole. In deciding whether or not to continue cleaning for another hour, she applies the economic principle s of A scarcity. B studying what factors influence the price and quantity of automobiles.
D Brand B or Brand C, depending on which is considered the highest-value alternative forgone. D the impact of government regulation of markets. D cost of all forgone alternatives. C the post hoc fallacy. D how to satisfy all our wants. C macroeconomics studies the behavior of government while microeconomics looks at private corporations.