Over the last 100 years labor force participation by elderly males has fallen from over 2/3 to 1/5
Indicate whether the statement is true or false
T
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Assuming that Yd = $20,000 and C = $22,000, we would find that the average propensity to consume would be equal to
A) 0.8. B) 1.8. C) 1.1. D) 0.9.
Refer to Figure 9-1. Suppose the government allows imports of leather footwear into the United States. What will be the quantity demanded?
A) 5 units B) 10 units C) 15 units D) 20 units
Should the home country be "large" relative to its trade partners, its imposition of a tariff on imports would lead to an increase in domestic welfare if the terms of the trade rectangle exceed the sum of the
A) revenue effect plus redistribution effect. B) protective effect plus revenue effect. C) consumption effect plus redistribution effect. D) production distortion effect plus consumption distortion effect. E) terms of trade gain.
Price discrimination
a. is illegal in the United States and Europe. b. can occur in both perfectly competitive and monopoly markets. c. is illogical because it does not maximize profits. d. can maximize profits if the seller can prevent the resale of goods between customers.