To the degree that the IBEW ensures that through its rigorous training requirements for prospective electricians are qualified to do the work, it is
A. shifting the supply of electricians to the right.
B. shifting the demand for electricians to the right.
C. kinking the supply of electricians to make it vertical at the level of the constraint.
D. shifting the supply of electricians to the left.
Answer: B
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A sealed-bid auction is one in which ________
A) bidders do not know each other's bid B) bidders know each other's bid C) bidders place their bids one after another D) bidders cannot determine the price of the good
A duopolist faces the entire market demand for its product if ________
A) it charges a lower price than its rival B) it charges a higher price than its rival C) it charges the same price as its rival D) it charges a price higher than its cost of production
Exhibit 12-1 Income for two persons NameIncome Elaine$100,000 Daniel$ 40,000 In Exhibit 12-1, if the income tax system is progressive, then:
A. Elaine and Daniel will face the same tax rate and will have tax bills the same size. B. Elaine and Daniel will face the same tax rate but have tax bills that are different sizes. C. Elaine will face a higher tax rate and will have a larger tax bill than Daniel. D. Elaine will face a lower tax rate and will have a smaller tax bill than Daniel.
How much people plan to consume at various levels of disposable income is known as
A. dissaving. B. the consumption function. C. investment. D. aggregate demand.