Mr. McConaughey has the afternoon, 5 hours, to spend doing whatever he wants. How much time does Mr. McConaughey spend with his friends and family and how much time does he spend breaking a sweat to maximize his total utility?
A) 3 hours with friends and family and 2 hours breaking a sweat
B) 2 hours with friends and family and 3 hours breaking a sweat
C) 0 hours with friends and family and 5 hours breaking a sweat
D) 3 hours with friends and family and 4 hours breaking a sweat
B
Economics
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The figure above represents the behavior of total revenue as price falls along a straight-line demand curve. Unit elasticity of demand occurs at
A) point g. B) point h. C) point i. D) point j.
Economics
If the government increases the amount of unemployment insurance that unemployed workers can collect, the amount of frictional unemployment would be expected to:
A. fall. B. remain constant. C. rise. D. first rise and then fall.
Economics