Which of the following is responsible for ensuring employee safety?
a. osha
b. eeo
c. department of labor
d. cobra
Ans: a. osha
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To simplify our consumption models, suppose U.S. consumers only purchase food and all other goods where food is plotted along the horizontal axis of the indifference map
Also, suppose that all states initially impose state sales taxes on all goods (including food), but then the states exempt food from the state sales tax. How does this tax policy change alter the consumer's budget line? A) Makes the budget line steeper B) Makes the budget line flatter C) Parallel rightward shift D) Parallel leftward shift E) none of the above
The trade philosophy of the Clinton administration is best characterized as
a. protectionist. b. mercantilist. c. free trade. d. strategic trade.
The price of the typical cell phone has been going down in the past 10 years. What could explain this consistent drop in the price of these phones? Use the model for the long-run competitive firm to illustrate your answer (hint: you need two diagrams here: one showing the LAC for the typical firm, and another showing the long-run supply curve for the industry).One explanation is that the market for cell phones is a pecuniary economy, due to economies of scale. If that is the case, the diagram to represent the LAC for this market is given below.
What will be an ideal response?
The variety of products and features which consumers may choose from in monopolistic ally competitive industries:
A. At least partially offsets the economic inefficiencies of this market structure B. Leads to an optimal allocation of resources in the market structure C. Guarantees that firms produce at full-capacity output levels D. Makes the demand curves facing firms in these industries perfectly elastic