Refer to the below graph for the labor market. The government decides to impose a wage tax as shown on the graph. If the number of workers hired after the imposition of the tax is 1,000, then the total amount of the tax is:
A. $200
B. $300
C. $400
D. $500
D. $500
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Assuming the United States is the "domestic" country, if the real exchange rate between the United States and France increases from 1.5 to 1.8,
A) the prices of U.S. goods and services have increased by 53% relative to France. B) the prices of U.S. goods and services have decreased by 16% relative to France. C) the prices of U.S. goods and services have increased by 20% relative to France. D) the prices of U.S. goods and services have increased by 3% relative to France.
People cannot be prevented from using a good if the good is
a. a private good or a public good. b. a private good or a common resource. c. a public good or a common resource. d. a public good or a club good.
The theory of consumer choice provides the foundation for understanding the
a. structure of a firm. b. profitability of a firm. c. demand for a firm's product. d. supply of a firm's product.
An example of a government policy to enhance technological progress is:
A. maintaining a well-functioning legal system. B. the provision of publicly-funded education. C. the construction of an interstate highway system. D. government support for basic research.