If a graph has a line that shows the quantity of flat-screen televisions sold in the last five years, it is known as
A) a pie chart.
B) a time-series graph.
C) a demand curve for outsourcing.
D) a supply curve of outsourcing.
Answer: B
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The figure above illustrates the current market for fast-food workers in Baltimore
a. Without any government intervention, what is the equilibrium wage rate and amount of employment? b. If the city government imposes a minimum wage of $3 an hour, what is the amount of employment? Does the minimum wage create any unemployment? Why or why not? c. If the city government imposes a minimum wage of $6 an hour, what is the amount of employment? Does the minimum wage create any unemployment? Why or why not?
If you knew that an investment was going to pay you $46,370 in 5 years, and you knew that the annual interest rate over that time would be 3 percent, you could calculate the present value to be:
A. $39,999. B. $37,000. C. $41,998. D. $41,600.
When private benefits equal social benefits, it means that:
A. positive externalities are not present in the market. B. positive externalities are present in the market. C. no externality of any kind is present in the market. D. negative externalities are present in the market.
The profit-maximizing rule says that any seller will expand output up to the point
A. where marginal revenue equals price. B. where marginal revenue equals marginal cost. C. where marginal cost equals price. D. where marginal revenue is less than the price.