A student has a chance to see Taylor Swift in concert. The student also has a major economics exam in the morning. If the student goes to the concert:
a. she may receive a lower grade on the economics exam
b. the opportunity cost of the concert includes the value of the time that would otherwise have been spent studying.
c. the decision involves a tradeoff.
d. all of the above are correct.
d
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Sam wins a Mega Millions jackpot worth $3 million. Which of the following is most likely true of Sam's consumption function? a. His consumption function will be flatter
b. His consumption function will be steeper. c. His consumption function will shift upward. d. His consumption function will shift downward.
If the required reserve ratio is 20 percent and commercial bankers decide to hold additional excess reserves equal to 5 percent of any newly acquired checkable deposits, then the effective monetary multiplier for the banking system will be:
A. 3 B. 4 C. 5 D. 6