Suppose your management professor has been offered a corporate job with a 30 percent pay increase. He has decided to take the job. For him, the marginal
a. cost of leaving was greater than the marginal benefit.
b. benefit of leaving was greater than the marginal cost.
c. benefit of teaching was greater than the marginal cost.
d. All of the above are correct.
b
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Which of the following represents a normative statement? a. A decrease in price leads to an increase in quantity demanded
b. The study of economics is more important than the study of history. c. People will buy less butter at $1.50 per pound then they will at $1.00 per pound. d. As an economy develops, the nation's birth rate tends to fall.
Sonia has a BA in art history, and is currently working full-time as a waitress. The Bureau of Labor Statistics would count Sonia as:
A. underemployed. B. employed. C. unemployed. D. a discouraged worker.