Exam 1
additional - ANS-the marginal tax rate is the rate on ___________ income
lead to a recession or a slowing of economic growth - ANS-not enough money in the economy
market incentives are too strong - ANS-a firm that doesn't pay for the pollution it emits has an
incentive to emit too much pollution. In this case:
the general level of prices fall - ANS-Which of the following doesn't happen if the central banks
print too much money?
economic growth - ANS-The incidence of malaria is not just about geography; it's also about:
inflation doesn't make it difficult for people to judge the real value of investments - ANS-What is
not true of inflation?
7.50 - ANS-Darla has earned an average of $7 an hour so far this year. Currently her marginal
pay is $7.50. By definition, if she works another hour, she will receive:
job opportunities for high school graduates - ANS-The opportunity cost of attending college
increases as _____ increase(s).
market incentives are too weak - ANS-Janice didn't get a flu shot this year because she thought
only about the benefits to herself not the benefits to others. In this case:
Ali Baba's changes its offer to 7$ an hour - ANS-Jasmine is considering taking a job as a
hostess at the Forty Thieves restaurant, for $8 an hour. She was also offered a hostess position
at Ali Baba's restaurant, where she would be paid $7.25 an hour. Which of the following will
decrease Jasmine's opportunity cost of taking the job at Forty Thieves?
the lower-ranking university's increasing the offer to include fees and books - ANS-Jasmine is
considering taking a job as a hostess at the Forty Thieves restaurant, for $8 an hour. She was
also offered a hostess position at Ali Baba's restaurant, where she would be paid $7.25 an hour.
Which of the following will decrease Jasmine's opportunity cost of taking the job at Forty
Thieves?
additional - ANS-the marginal tax rate is the rate on ___________ income
lead to a recession or a slowing of economic growth - ANS-not enough money in the economy
market incentives are too strong - ANS-a firm that doesn't pay for the pollution it emits has an
incentive to emit too much pollution. In this case:
the general level of prices fall - ANS-Which of the following doesn't happen if the central banks
print too much money?
economic growth - ANS-The incidence of malaria is not just about geography; it's also about:
inflation doesn't make it difficult for people to judge the real value of investments - ANS-What is
not true of inflation?
7.50 - ANS-Darla has earned an average of $7 an hour so far this year. Currently her marginal
pay is $7.50. By definition, if she works another hour, she will receive:
job opportunities for high school graduates - ANS-The opportunity cost of attending college
increases as _____ increase(s).
market incentives are too weak - ANS-Janice didn't get a flu shot this year because she thought
only about the benefits to herself not the benefits to others. In this case:
Ali Baba's changes its offer to 7$ an hour - ANS-Jasmine is considering taking a job as a
hostess at the Forty Thieves restaurant, for $8 an hour. She was also offered a hostess position
at Ali Baba's restaurant, where she would be paid $7.25 an hour. Which of the following will
decrease Jasmine's opportunity cost of taking the job at Forty Thieves?
the lower-ranking university's increasing the offer to include fees and books - ANS-Jasmine is
considering taking a job as a hostess at the Forty Thieves restaurant, for $8 an hour. She was
also offered a hostess position at Ali Baba's restaurant, where she would be paid $7.25 an hour.
Which of the following will decrease Jasmine's opportunity cost of taking the job at Forty
Thieves?
