Refer to Scenario 8-1. The value of each canoe in gross domestic product equals
A) $1,200. B) $800. C) $500. D) $400.
A
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Scott owns a law-enforcement training operation in Boise, Idaho. He employs three trainers. The last trainer Scott hired increased Scott's total cost by $466 per week even though the trainer brought in only one new client. Hence Scott's
A) total variable cost equals $466. B) marginal cost of the last client equals $466. C) marginal cost of the last worker equals $233. D) total variable cost equals $233. E) total fixed cost of the last client equals $466.
In the above figure, if we begin at S2 and the Fed buys bonds
A) the price of bonds falls, and the interest rate rises. B) the price of bonds falls, and so does the interest rate. C) the price of bonds rises, and so does the interest rate. D) the price of bonds rises, and the interest rate falls.