To increase income by $120 when the slope of the curve showing the relationship between your income and work hours is 8, how many extra hours will you need to work?
A. 8
B. 15
C. 112
D. 960
Answer: B
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Use the following figure showing the domestic demand and supply curves for product B in a hypothetical economy to answer the next question.
Prior-to-trade (autarky) total economic surplus equals areas
A. A + B + C + E + F + J + I. B. A + B + C + D. C. A + B + C. D. A + B + C + E + F.
In quantity theory terms, during a hyperinflation,
A) money supply increases rapidly, but velocity does not B) velocity increases rapidly, but money supply does not C) both the money supply and velocity increase rapidly D) neither the money supply nor velocity increase rapidly
An implication of the downward slope of the demand curve for a monopolistic competitive firm is that
A) its marginal revenue curve slopes upward. B) its marginal revenue curve and its demand curve are identical (same) line. C) its marginal revenue curve slopes downward but lies above the demand curve. D) its marginal revenue curve slopes downward but lies below the demand curve.
The human-capital theory of education maintains that workers who complete specific levels of education enhance their productivity through education
a. True b. False Indicate whether the statement is true or false