We assume an upward sloping supply curve because:
A. the income effect tends to dominate labor-supply decisions in the real world.
B. it makes better theoretical sense that the price effect would dominate.
C. it makes better theoretical sense that the income effect would dominate.
D. the price effect tends to dominate labor-supply decisions in the real world.
D. the price effect tends to dominate labor-supply decisions in the real world.
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In the above figure, the shift in the supply curve from S to S1 reflects
A) an increase in the quantity of pizza supplied. B) a decrease in the quantity of pizza supplied. C) an increase in the supply of pizza. D) a decrease in the supply of pizza. E) None of the above answers is correct.
Which of the following is a way to compute GDP?
a. total income earned. b. total expenditures on final goods. c. add up the market values of all final goods and services. d. All of the above are correct.
Which of the following would not be included in the government consumption expenditures and gross investment (G) category of GDP?
A. The payments made to Social Security recipients. B. The expenditures made to repair a highway. C. The spending for professors at state universities. D. The purchase of new china for White House functions.
The use of the "common" logarithm in stock data graph is done to
A. show the up and down swings in the early years because, without it, it just looks like an upward sloping line. B. confuse the issue. C. show the up and down swings in the middle years because, without it, it just looks like an upward sloping line. D. show the up and down swings in the later years because, without it, it just looks like an upward sloping line.