Your employer has asked you to start working overtime and has offered to pay $18 per hour for every hour you work beyond forty hours a week. The wage rate for each of the first forty hours will continue to be the usual $15 per hour
In terms of dollars, what is the marginal benefit of working each hour of overtime? A) zero
B) $3.00
C) $15.00
D) $18.00
D
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Use the following figure to answer the question below.
Dave's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn.
A. 1/2 B. 4 C. 2 D. 1
The government could increase Social Security tax revenues by raising the payroll tax cap beyond its current $110,000
Indicate whether the statement is true or false
In competitive markets a surplus or shortage will:
a. Cause buyer and seller reactions which tend to intensify the surplus or shortage b. Never exist c. Cause buyer and seller reactions which tend to eliminate the surplus or shortage d. Cause shifts in the demand and supply curves
?Hair Pins /hourBandanas /hourNigel410Mia93
Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 18.3. Nigel's opportunity cost of producing one hair pin is:
A. 1/3 of a bandana. B. 2.5 bandanas. C. 3 bandanas. D. 10 bandanas.