From a union's perspective, the optimal level of employment is determined by the intersection of the
A. Labor demand curve and the marginal wage curve.
B. Labor demand curve and the marginal factor cost curve.
C. Labor demand curve and the labor supply curve.
D. Marginal wage curve and the labor supply curve.
Answer: D
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If a small country were to levy a tariff on its imports then this would
A) decrease the country's economic welfare. B) have no effect on that country's economic welfare. C) increase the country's economic welfare. D) change the terms of trade. E) raise prices on its exports in other countries.
What is the present value of $500.00 to be paid in two years if the interest rate is 5 percent?
A) $453.51 B) $500.00 C) $476.25 D) $550.00
In the context of formulating environmental policy, President Reagan’s Executive Order 12291 is primarily responsible for the increased use of
a. benefit-cost analysis c. risk-benefit analysis b. risk-risk analysis d. relative risk reduction
If a hot dog vendor on a street corner experiences an increase in total revenue after lowering the price of a hot dog, then the demand for the hot dogs must be elastic
Indicate whether the statement is true or false