Suppose Sarah has been offered a position as web designer at Firm A and Firm B. Both firms require their employees to work for 9 hours a day, but Firm A allows its employees to have a flexible work schedule, while Firm B requires its employees to be at work from 9am to 5pm. Otherwise, the jobs are identical. You would expect:
A. Sarah's wages to be the same at both firms.
B. Sarah's wages to be lower at Firm A than at Firm B.
C. Sarah's wages to be higher at Firm A than at Firm B.
D. Sarah to turn down both job offers.
Answer: B
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Refer to Table 3.2, which shows some costs and benefits of having your car repaired. Suppose you use your car to deliver pizzas. If your wage increases from $10 to $20 per hour, what happens to your best choice of hours to spend on car repairs?
A. It increases by 1 hour.
B. It decreases by 1 hour.
C. It doesn't change.
D. It decreases by 2 hours.
If firms' unplanned inventories are increasing, then in a closed, private economy
A. the level of real national income will rise. B. actual consumption is greater than planned consumption. C. the level of real national income will not change in the foreseeable future. D. consumers are saving more than businesses anticipated.
Suppose a perfectly competitive ukulele factory can produce 35 ukuleles at an output at which marginal cost equals marginal revenue. The price per ukulele is $1300 and the average total cost is $1500. What is the profit or loss that this furniture
factory is earning? A) $700.00 B) -$7,000.00 C) -$1,050.00 D) -$450.00
Refer to the information provided in Table 23.6 below to answer the question(s) that follow.
Table 23.6A Hypothetical Investment Schedule
Refer to Table 23.6. If the interest rate dropped from 15% to 6%, planned investment would ________ by $________ billion.
A. decrease; 90 B. increase; 270 C. decrease; 270 D. increase; 90