Your professor loves her work, teaching economics. She has been offered other positions in the corporate world that would increase her income by 25 percent, but she has decided to continue working as a professor. Her decision would not change unless
a. the marginal cost of teaching increased.
b. the marginal benefit of teaching increased.
c. the marginal cost of teaching decreased.
d. the marginal benefit of a corporate job decreased.
A
You might also like to view...
Unless there are deaths or resignations, a two-term U.S. President can appoint up to
A) twelve members of the Federal Reserve Board of Governors. B) eight members of the Federal Reserve Board of Governors. C) four members of the Federal Reserve Board of Governors. D) two members of the Federal Reserve Board of Governors.
Assume that the expectation of a recession next year causes business investments and household consumption to fall, as well as the financing to support it. If the nation has low mobility international capital markets and a fixed exchange rate system, what happens to the quantity of real loanable funds per time period and GDP Price Index in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period rises and GDP Price Index rises. b. The quantity of real loanable funds per time period falls and GDP Price Index falls. c. The quantity of real loanable funds per time period rises and GDP Price Index falls. d. The quantity of real loanable funds per time period and GDP Price Index remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.