Describe the environmental Kuznets curve
What will be an ideal response?
This curve shows the effect of increased per capita income on environmental damage. It has an inverted U shape that indicates that increased per capita income first increases and then decreases environmental damage.
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Refer to Table 4-8. If a minimum wage of $9.50 an hour is mandated, what is the quantity of labor supplied?
A) 390,000 B) 380,000 C) 370,000 D) 340,000
The wage rate is the opportunity cost of
A) leisure. B) consumption. C) working overtime. D) working.
Which firm provides the better signal when trying to decide which of the? firms' stock to? buy?
A) Firm A, which uses an independent accounting firm for auditing.
B) Firm B, which uses an internal group for auditing.
C) Firm C, which has seen its stock go up by $20 per share in the last week.
D) Firm D, which hasn't been under SEC investigation for over 5 years.
Figure 3-20
Refer to . At the equilibrium price, consumer surplus is
a.
$480.
b.
$640.
c.
$1,120.
d.
$1,280.