Job A is hard, dull, and dangerous. Job B is easy, fun, and safe. All else equal, we would expect Job A to pay
a. higher wages than Job B because the labor supplied for Job B will be greater.
b. lower wages than Job B because the labor supplied for Job B will be greater.
c. higher wages than Job B because the labor supplied for Job A will be greater.
d. lower wages than Job B because the labor supplied for Job A will be greater.
a
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If a tariff is imposed on imports of shrimp into the United States, U.S. consumer surplus from shrimp will ________ and U.S. total surplus from shrimp will ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease E) increase; not change
Oxnard Rims, Inc., has $5 million in assets and $2 million in debt. During the course of the year, it takes in $1 million in net revenue after deduction of all costs (except for interest) and incurs interest expenses of $500,000. Oxnard Rims, Inc., pays an average tax rate of 35% on its profit. Calculate the percentage return on equity after taxes for the corporation. If the market interest rate is 12.5%, do you think Oxnard Rims pleased its investor for the preceding year?
What will be an ideal response?
The principle that "More is better" results in indifference curves
A) sloping down. B) not intersecting. C) reflecting greater preferences the further they are from the origin. D) All of the above.
The marginal revenue product of capital is
a. the increase in output that results from employing one more unit of capital b. the increase in profit that results from employing one more unit of capital c. the increase in revenue that results from employing one more unit of labor d. the increase in revenue that results from employing one more unit of capital e. the increase in profits that results from employing one less unit of labor