Refer to Figure 34.4. There is a welfare-induced disincentive to work starting at
A. 750 hours.
B. 17,50 hours.
C. 500 hours.
D. 1250 hours.
Answer: C
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If the economy moves upward along its short-run Phillips curve, in the AS-AD diagram, this movement is shown by a
A) rightward shift of the AS curve and a movement along the AD curve. B) movement downward along the AS curve as a result of a leftward shift of the AD curve. C) movement upward along the AS curve as a result of a rightward shift of the AD curve. D) leftward shift of the AS curve and a movement along the AD curve. E) rightward shift of potential GDP.
Suppose a $1 tax is placed on a good. The more elastic the supply of the good, the
A) larger the increase in the after-tax price. B) smaller the decrease in the quantity sold. C) less of the tax will be paid by the buyers. D) more of the tax will be paid by the sellers.
Using the above figure determine which country has the comparative advantage in the production of corn. In addition, determine which has the comparative advantage in the production of barley
What will be an ideal response?
Core competency implies:
A) a firm produces one single product. B) a firm hires only one type of employee. C) a firm focuses on only one type of customer. D) a firm does one thing better than it does other things. E) a firm must be competent at its core - its executive level.