Suppose the country of Dingo experienced an economic trough in January 2004. We can conclude that...
What will be an ideal response?
an expansion occurred in 2004
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What would happen to the optimal amount of pollution if studies found dangerous effects of SO2 cause cancer and the government takes away subsidies to companies for cleaning up their pollution?
A. Uncertain B. Increase C. Stay the same D. Decrease
If a monopolist can sell 3 units at price of $150 per unit and 4 units at a price of $140 per unit, its marginal revenue at an output of 4 is
A) $-10.00. B) $10.00. C) $560.00. D) $110.00.
In which of the following scenarios would a tax be least likely to affect the amount of labor supplied?
A. A 10 percent tax on the earnings of NFL quarterbacks B. A 10 percent tax on the earnings of fast-food workers C. A 10 percent tax increase on the earnings of all workers D. A 10 percent tax decrease on earnings of construction workers
Exhibit 4-2 Supply and demand curves
The market shown in Exhibit 4-2 is initially in equilibrium at point E3. Union negotiations for workers producing good X result in a wage increase. Other things being equal, which of the following is the new equilibrium after this wage increase is in effect?
A. E1. B. E2. C. E3. D. E4.