Suppose the equilibrium price of a tube of toothpaste is $2, and the government imposes a price floor of $3 per tube. As a result of the price floor, the
a. demand curve for toothpaste shifts to the left.
b. supply curve for toothpaste shifts to the right.
c. quantity demanded of toothpaste decreases, and the quantity of toothpaste that firms want to supply increases.
d. quantity supplied of toothpaste stays the same.
c
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If the consumption function is defined as C = 5,500 + 0.9Y, what is the autonomous level of consumption expenditure?
A) $4,950 B) $5,500 C) $6,050 D) $6,111
Consider a world with three income earners. Individual A earns $20,000 and pays $1,000 in taxes. Individual B earns $50,000 and pays $5,000 in taxes. Individual C earns $100,000 and pays $2,000 in taxes
Which of the following best classifies the income tax system in this world? a. proportional b. progressive c. regressive d. none of the above
A manufacturing company is sampled from a population of manufacturing companies, and then the data on at least two employees are recorded. This is an example of:
A. ?matched pair samples. B. ?random samples. C. ?cluster samples. D. ?nonrandom samples.
Google and Yahoo internet search engines are examples of:
A. government-implemented models. B. coordinating mechanism designs. C. free market pricing models. D. auction markets.