A New Keynesian firm chooses
A) its selling price and how much it sells at that price.
B) its selling price but not how much it sells at that price.
C) how much it sells but not the selling price.
D) neither how much it sells nor the selling price.
B
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With specialization
A) opportunity costs tend to be constant. B) there are greater gains in material well being. C) there is more emphasis on self-reliance. D) society is more productive while individuals are less productive.
Refer to the above table. Suppose the price of X increases from $10 to $12. What is the cross price elasticity of demand between X and Y?
A) -1.833 B) +0.545 C) +0.579 D) +1.833
A leftward shift of the supply curve for oil in the United States is most likely to result from:
A. A decrease in the fees that oil companies must pay for drilling licenses B. An increase in the subsidy for oil exploration and drilling C. A decrease in the world price of oil D. An increase in the costs of exploration and drilling for oil
Refer to the data provided in Table 10.2 below to answer the following question(s).
Table 10.2 
Refer to Table 10.2. If workers are paid $150 per day, then the firm is profit maximizing when it hires ________ workers.
A. two B. three C. four D. five