Which of the following is not associated with strikes?
A. Strike duration is generally procyclical.
B. If the union makes wage offers, it will likely do so according to a downward-sloping resistance curve.
C. Strikes are costly to the union.
D. Strikes are costly to the firm.
E. The probability of striking is generally procyclical.
Answer: A
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Regardless of how price inelastic the supply curve, tax revenue from a per-unit tax rises the more price inelastic the demand curve is.
Answer the following statement true (T) or false (F)
Suppose Annie expects an annual return of $520 from an investment worth $500 . What should be the rate of interest charged by her to a risky borrower who is likely to repay the principal and interest with a probability of 0.7?
a. 45 percent b. 48.6 percent c. 20.33 percent d. 53.4 percent
Tom quit his $65,000 a year corporate lawyer job to open up his own law practice. In Tom's first year in business his total revenue equaled $150,000 . Tom's explicit cost during the year totaled $85,000 . What is Tom's economic profit for his first year in business?
a. $0 b. $20,000 c. $65,000 d. $85,000
Which of the following events shifts aggregate demand rightward?
a. an increase in government expenditures or a decrease in the price level b. a decrease in government expenditures or an increase in the price level c. an increase in government expenditures, but not a change in the price level d. a decrease in the price level, but not an increase in government expenditures