Theory A predicts that the higher the opportunity cost of having a child, the fewer children a woman will have. Which of the following is evidence against the theory if opportunity cost is measured in terms of foregone salary?
A) women with high-paying jobs have more children than women with low-paying jobs.
B) women with low-paying jobs have more children than women with high-paying jobs.
C) men married to women with high-paying jobs want more children than men married to women with low-paying jobs.
D) the mothers of women with high-paying jobs will want their daughters to have children more than the mothers of women with low-paying jobs will want their daughters to have children.
E) none of the above
A
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Refer to Figure 4-3. What area represents producer surplus at the equilibrium price of P1?
A) D + E B) D + E + G + H C) A + B + C + D + E D) A + B + D
Identify the five core principles of Money and Banking.
What will be an ideal response?
When a tariff is removed from an imported product, which of the following will occur?
A. The demand curve for the imported product will shift to the right. B. The level of imports will fall. C. The supply curve for the imported product will shift to the left. D. The price paid by consumers will fall.
If the firm has already reached the minimum efficient scale, then:
A. any additional output will not result in a lower long run average cost. B. any additional output will result in a lower long run average cost. C. additional output will result in a lower long run marginal cost. D. the firm is profit maximizing in the long run.