If Kobe, an NBA star athlete, earns $10 million per year but has no money in the bank, he has a
A. high income and high wealth.
B. low income and high wealth.
C. high income and low wealth.
D. low income and low wealth.
Answer: C
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The figure above shows the demand for and supply of rental housing in Smallton. If a rent ceiling is set at $800, what is the rent?
A) $800 B) $600 C) $400 D) None of the above answers is correct.
Attractive landscaping increases the property values of surrounding homes, creating a marginal benefit. The figure above represents the market for monthly landscaping contracts
a) What is the marginal social benefit of the 40th contract? Of the 60th contract? b) What is the marginal private benefit of the 40th contract? c) What is the marginal external benefit of the 40th contract? d) What is the unregulated competitive equilibrium price and quantity? e) What is the efficient quantity? f) What is the amount of the deadweight loss?
Discuss the benefits of unions
What will be an ideal response?
If quantity demanded for rice falls by 4% when price increases 8%, we know that the absolute value of the own-price elasticity of rice is: a. 2.5
b. 0.5. c. 2. d. 0.40.