After a price change, the substitution effect will be the same as the income effect.
A. True
B. False
C. Uncertain
C. Uncertain
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The following table shows the relationship between the speed of a computer's CPU and its benefits and costs. Assume that all other features of the computer are the same (that is, CPU speed is the only source of variation), and only the CPU speeds listed below are available for purchase.CPUGHzTotal BenefitMarginal BenefitTotal CostsMarginal Costs2.0$1,000 $900 2.5$1,400 &1003.0 $300$1,200 3.5$1,900 &1,500 4.0$2,000 &400The total benefit of a 3.0GHz computer is:
A. $900. B. $300. C. $1,700. D. $1,650.
Real GDP is $700 billion, average hours worked per week is 42 and aggregate hours 150 billion hours. What is the economy's labor productivity?
A) $1.80 per hour B) $3.75 per hour C) $16.67 per hour D) $46.67 per hour E) $4.50 per hour
In order for a cap-and-trade system to work, it must be that pollution permits are bought by producing firms -- and not given to them as part of an attempt to prevent them to lobby against the cap-and-trade system
Answer the following statement true (T) or false (F)
Refer to the scenario above. Which of the following shifts will increase the total cost?
A) Shift from apartment Close to Far B) Shift from apartment Far to Very Far C) Shift from apartment Very Close to Close D) Shift from apartment Very Far to Extremely Far