When income rises
A) demand for a normal good rises.
B) demand for a normal good falls.
C) demand for an inferior good rises.
D) quantity of a normal good demanded rises.
A
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For corporate taxes, the lowest tax bracket is
A. 9 percent. B. 12 percent. C. 15 percent. D. 22 percent.
In the case of errors-in-variables bias, the precise size and direction of the bias depend on
A) the sample size in general. B) the correlation between the measured variable and the measurement error. C) the size of the regression R2. D) whether the good in question is price elastic.
If a union is successful in negotiating a wage rate which is above the market clearing wage, then which of the following would not occur?
A) The higher wages attract more workers leading to a shortage of jobs. B) Management may replace part of the workforce with machinery. C) To handle the surplus of labor the union will form a closed shop. D) The union may shift the supply of labor curve by developing methods to ration jobs.
The price per unit times the total quantity sold is
A. total revenue. B. average revenue. C. marginal revenue. D. price revenue.