Which of the following is a reason why a particular job may pay a higher-than-average wage rate?
a. low educational requirements
b. high fringe benefits
c. free parking
d. high risk
e. low skill requirement
D
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According to your text, which group or organization makes choices?
A) Al Qaeda B) New York City C) The Microsoft Corporation D) The Iraqi Government E) None of the above.
In the short run, a perfectly competitive firm's most profitable level of output is where:
a. total revenue minus total cost is at a maximum. b. marginal cost equals marginal revenue. c. Both of the above. d. Neither of the above.
Any basket of goods that is missing food and energy items is:
A. missing a large portion of consumption. B. missing a small portion of a typical consumer's basket. C. a useless calculation. D. called the retail sales index.
Figure 4-25
Refer to . The equilibrium price before the tax is imposed is
a.
P1.
b.
P2.
c.
P3.
d.
impossible to determine from the figure.