The effects of a tax credit for purchasing new energy-compliant appliances on the use of electricity.
A. Microeconomics
B. Macroeconomics
Answer: A. Microeconomics
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In the model of monopolistic competition, compared to a firm with a lower marginal cost, a firm with a higher marginal cost will set a ________ price, produce ________ output, and earn ________ profits
A) higher; less; less B) lower; more; more C) higher; more; more D) lower; less; less E) higher; less; more
Advocates of floating rates pointed out that
A) removal of the obligation to peg currency values would restore monetary control to central banks. B) imposing of the obligation to peg currency values would restore monetary control to central banks. C) removing of the obligation to peg currency values would restore fiscal control. D) imposing of the obligation to peg currency values would restore fiscal control. E) imposing of the obligation to peg currency would restore monetary control to the consumer.
When hiring additional workers, a firm operating in a perfectly competitive labor market will
A) have to offer higher wages to hire additional workers, but the old workers do not get the higher wage. B) have to offer higher wages to hire additional workers, and the old workers will also receive the new, higher wage. C) be able to hire additional workers without offering higher wages. D) be able to hire additional workers at lower wages because the new workers have been unemployed.
The U.S. Department of Agriculture and Ernst Engel have confirmed, separately, that there is an inverse relationship between income changes and food consumption
Indicate whether the statement is true or false