Physicians salaries increased substantially over the decade 1995-2005 from an average of $215,000 to $315,000 . What is the best explanation for this?
a. Physicians were smarter in 2005 than in 1995.
b. The supply of physicians has increased.
c. The supply of physicians has decreased.
d. The demand for physicians has increased.
e. The demand for physicians has decreased.
D
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Suppose you plan to go to school this summer. The cost of tuition and textbooks is $1,400 and housing, board, and entertainment will cost you $500
If you didn't go to school, you'd live in your parents' house for free, but your other living expenses would be about the same. Also, if you didn't go to school you'd work full time and could earn $8,000. You can still work part time while attending the summer school, but you will earn only $3,000. a) What will the summer school cost you in terms of money explicitly paid? b) What are the opportunity costs of going to summer school that you don't pay explicitly? Explain. c) What is your total opportunity costs of going to school this summer? Explain your answer.
The primary indicator of the Fed's stance on monetary policy is
A) the discount rate. B) the federal funds rate. C) the growth rate of the monetary base. D) the growth rate of M2.