A fall in the demand for the final product brings about
A. a rise in derived demand.
B. a fall in derived demand.
C. no change in derived demand.
B. a fall in derived demand.
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A mother of three who receives $600 a month in total welfare benefits if she is not working, but who loses all those benefits and also pays 10 percent of her earnings to the tax collector if she takes a job paying $1000 a month, is being taxed on her
earnings at an effective marginal rate of A) 10 percent. B) 30 percent. C) 50 percent. D) 70 percent.
By continuing to operate when price is greater than average variable cost but less than average total cost, a firm limits its losses to:
A) $0. B) its total fixed costs. C) the difference between its total fixed cost and the amount by which total revenue exceeds total variable costs. D) its total variable costs.
The law of supply implies that
A. Supply curves are flat. B. A change in a determinant of demand shifts the supply curve. C. Supply curves are downward-sloping to the right. D. Supply curves are upward-sloping to the right.
If country A has a larger trade triangle than country B, reciprocal demand will lead to an increase in the relative price of A's imports
Indicate whether the statement is true or false