The current slowdown in productivity growth afflicting most of the industrialized countries is commonly thought to have begun around
A) 1897.
B) 1929.
C) 1948.
D) 1973.
E) 1984.
D
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Welfare payments _____
a. often increase the marginal cost of being employed b. often decrease the marginal cost of being employed c. have led to a tremendous decline in poverty since 1968 d. have no relationship to the marginal cost of being employed
Using the above table, at a price of $5 there will be a
A) shortage of 20 units. B) shortage of 10 units. C) surplus of 20 units. D) surplus of 10 units.
The opportunity set contains:
a. a single combination of consumption that someone can afford given the prices of goods and the individual’s income. b. all possible combinations of consumption that someone can afford given the prices of goods regardless of the individual’s income. c. all possible combinations of consumption that someone can afford given the prices of goods and the individual’s income. d. a single combination of consumption that someone can afford given the prices of goods regardless of the individual’s income.
An increase in the subsidy paid to producers of tobacco
A. decreases the demand for tobacco. B. increases the supply of tobacco. C. increases the market price of tobacco. D. increases the demand for tobacco.