The relative flexibility of the United States labor market explains why ________ in the United States than in Europe
A) income inequality is greater
B) real wages grow more slowly
C) unemployment is lower
D) all of the above
D
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In order to sell additional units the monopolist must ___________ the price.
Fill in the blank(s) with the appropriate word(s).
A farmer buys seed for 20 cents that is used to grow wheat. The farmer sells the wheat to the miller for 35 cents, and the miller makes flour, which is then sold to the baker for 55 cents. The baker makes bread and sells it to the grocer for 80 cents, and the grocer sells the bread to a family for 90 cents. What is the value added of the baker and what is the sum of the value added at each stage of production?
A. 25 cents; $2.90 B. 80 cents; $1 C. 25 cents; 90 cents D. 80 cents; $2.90
If a straight line passes through the point x = 12 and y = 4 and also through the point x = 4 and y = 8, the slope of this line is
A) negative 8 divided by 4. B) seven tenths. C) negative one half. D) one -and one half.
According to the quantity theory of money, velocity
A. is constant. B. is proportional to the price level. C. is positively related to the real interest rate. D. increases with nominal income.