Recent legislation passed by the government increases the cost of health insurance and retirement benefits borne by all companies. Which of the following is a likely result?
a. The supply of labor will decrease
b. The quantity of labor demanded will increase.
c. The demand for labor curve will shift to the left.
d. The marginal product of labor will increase.
c
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Molly received an autographed poster of David Hasselhoff for her 21st birthday
Her friend Helga offered her $50 for the poster, but Molly refused to sell the poster even though she knows she would never pay that much to replace it if it was ever damaged or destroyed. Explain this inconsistency in Molly's behavior.
A pair of shoes manufactured in Milan, Italy cost 195 euros. What is the dollar value of the shoes if the exchange rate is $0.89 per euro?
A) $173.55 B) $195.00 C) $219.00 D) $890.00
For a given level of output, the short-run total cost of production
a. always falls below the long-run total cost of production b. always exceeds the long-run total cost of production c. always equals the long-run total cost of production d. may exceed or equal the long-run total cost of production e. may exceed or fall below the long-run total cost of production
What is the total welfare from trade as shown in Exhibit 2?
a. + a
b. + d
c. a + b + c + e + f
d. a + b + c + d + e + f