Refer to the data provided in Table 10.1 below to answer the following question(s).
Table 10.1 
Refer to Table 10.1. If the payment to labor per day is $100, this T-shirt manufacturer is maximizing profits if he will hire ________ employee(s).
A. one
B. two
C. four
D. five
Answer: C
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The short run is depicted by a vertical supply curve
Indicate whether the statement is true or false
Aggregate demand shows the relationship between: a. price levels and the number of goods that consumers buy during a given period of time
b. goods that are not purchased during a given period of time and the wealth created during the given period of time. c. the amount of investment spending and the market interest rate of an economy. d. the price level and the quantity of all goods sellers are willing and able to provide during a given period of time.
Decision control is made up of
A. initiation and ratification of projects. B. ratification and monitoring of projects. C. implementation and monitoring of projects. D. initiation and implementation of projects.
A small country imports T-shirts. With free trade at a world price of $10, domestic production is 10 million T-shirts and domestic consumption is 42 million T-shirts. The country's government now decides to impose a quota to limit T-shirt imports to 20 million per year. With the import quota in place, the domestic price rises to $12 per T-shirt and domestic production rises to 15 million T-shirts per year. If the import licenses are allocated for free based on fixed favoritism, how much will be gained by the importers with the quota licenses?
A. $240 million B. $200 million C. $70 million D. $40 million