Aimee sells hand-embroidered dog apparel over the Internet. Her annual revenue is $128,000 per year, the explicit costs of her business are $42,000, and the opportunity costs of her business are $30,000. What are the implicit costs of her business?

A utility-maximizing consumer would not consume more of a good if

a. marginal utility increases as more is consumed b. total utility diminishes as more is consumed c. MU/P < 1 d. MU/P < 1 e. MU/P = 1

The theory of rational expectations calls for monetary policy rules because:

A. Of past policy errors B. Policy tends to be countercyclical C. Of the inability to time policy decisions D. Of the reaction of the public to the expected effects of policy