Personal dating advertisements in the newspaper are popular because they
a. increase the marginal benefit of search
b. reduce the marginal cost of search
c. increase the marginal cost of search
d. reduce the optimal amount of search
e. increase quality dispersion
B
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Use the following graph to answer the next question.
In the figure, AD1 and AS1 represent the original aggregate supply and demand curves. If Q1 is full-employment output, then AD2 and AS1 represent a(n) ________.
A. full-employment B. price stability C. expansion D. recession
This Application showed that
A) the WTO can affect the actions of member countries, but rapid resolution of disputes requires ongoing negotiations between countries. B) decisions by the WTO can lead to further conflicts between countries. C) it may take years for decisions by the WTO to take effect. D) all of the above
At the competitive equilibrium:
A) the demand curve is tangential to the supply curve. B) the quantity demanded exceeds the quantity supplied of a good. C) the quantity supplied exceeds the quantity demanded of a good. D) the quantity demanded is equal to the quantity supplied of a good.
Philip purchased one million dollars' worth of New York City bonds. His interest earnings were $100,000 . His total federal tax on this income will be
a. $40,000 . since his marginal tax rate was 40 percent. b. $40,000 . since only 40 percent of capital gains is taxed. c. zero. d. very small, since he had a clever accountant who knew how to use loopholes.