Use the following table to answer the question below.Units ConsumedTotal UtilityMarginal Utility00-1W20235X3Y10440ZThe value for Y is
A. 30.
B. 25.
C. 45.
D. 40.
Answer: C
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A tariff ranging from 28 percent to 113 percent on Chinese frozen shrimp is an example of
A. a policy protecting American consumers from foreign producers. B. a policy protecting American fisheries from overfishing. C. a policy protecting domestic producers from foreign producers. D. a policy using regulations and taxes to protect American consumers.
Assuming all else equal, if the marginal product of labor rises, ________
A) there is a rightward movement along the labor demand curve B) the labor demand curve shifts to the right C) there is a leftward movement along the labor demand curve. D) the labor demand curve shifts to the left
If the Federal Reserve is interested in conducting contractionary policy, what types of policies should it consider?
What will be an ideal response?
The above figure illustrates the labor market for fast food restaurants in a small city in Peru. What would be the effects of a minimum wage imposed at $5.50 per hour?
A) unemployment equal to 400 hours B) unemployment equal to 200 hours C) a shortage of 400 hours D) nothing because the minimum wage has no effect on the equilibrium price and quantity