The U.S. economy is relatively closed in terms of economic activity related to exports and imports.
Answer the following statement true (T) or false (F)
True
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If the government provides a subsidy of $1 per hour to employers for hiring workers, ________
A) the equilibrium real wage will increase B) labor demand will decrease C) the equilibrium employment will decrease D) labor supply will increase
Which of the following would most likely exhibit the highest price elasticity of demand?
A) gasoline B) one particular brand of toothpaste C) motor oil D) salt
The most important source of financial capital for firms today is
A) sale of bonds. B) sale of new issues of stock. C) trade of previously issued stock. D) reinvestment of profits.
If the price of monthly satellite TV service increases from $50 to $60, the percentage change (using the average value (or the midpoint) is:
A. 18.2%. B. 16.7%. C. 10%. D. 60%.