Refer to Figure 1A.1. If the hours worked per week are 20, the income per week is:
A. 50.
B. 100.
C. 150.
D. 200.
Answer: C
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Suppose that the demand for oranges increases. Carefully explain how the rationing function of price will restore market equilibrium
What will be an ideal response?
Which of the following is the best example of a quota?
a. a tax placed on all small cars sold in the domestic market b. a limit imposed on the number of men's suits that can be imported from a foreign country c. a subsidy from the U.S. government to domestic manufacturers of men's suits so they can compete more effectively with foreign producers of men's suits d. a $100-per-car fee imposed on all small imported cars
Information asymmetry is not a problem when:
A. both parties lack the same information. B. the wants of both parties are opposed to one another. C. the wants of both parties are aligned with one another. D. the constraints of both parties are identical.
Identifying the causal effects of a policy by looking at two samples that lie on either side of a threshold is called
A. intention to treat. B. regression discontinuity. C. statistical significance. D. difference-in-differences.