Refer to the above figure. At a price of three cents, a(n) ________ of bubble gum will exist in the market
A) surplus
B) shortage
C) equilibrium quantity
D) excess quantity supplied
C
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Which of the following is a sequential game?
A) rock-paper-scissors (Roshambo) B) paintball C) Monopoly D) boxing
According to Keynes, wages are inflexible because
A) of the minimum wage set by government. B) of unions and long-term contracts. C) workers do not behave in their own self-interest. D) the economy is never in the long run.
The elasticity of demand for labor will be less the
A) longer the time period. B) easier it is to substitute one input for another. C) less the demand elasticity for the final product. D) larger the share of total costs accounted for by labor.
Refer to the graphs shown. The curve that best illustrates the law of supply is:
A. I. B. II. C. III. D. IV.