Consider the market for opticians. What is likely to happen to the equilibrium wage and quantity of opticians if more and more people turn to laser eye surgery instead of wearing glasses or contact lens?
A) The equilibrium wage falls and the equilibrium quantity of opticians rises.
B) The equilibrium wage and the equilibrium quantity of opticians rise.
C) The equilibrium wage and the equilibrium quantity of opticians fall.
D) The equilibrium wage rises and the equilibrium quantity of opticians falls.
C
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If a saver has a positive rate of time preference then the present value of $100 to be received 1 year from today is:
A. not calculable. B. unknown to the saver. C. less than 100. D. more than $100.
How does the owner of a corporation relate to the business?
A) The owners of the business have a separate legal distinction from the business. B) The owners of the business have no separate legal distinction from the business. C) The personal assets are part of the corporation's assets. D) None of these describe the legal relationship of corporate owners to the business.
According to the Keynesian model, an economy will have persistent, high unemployment if:
a. the government runs a budget deficit. b. markets operate freely. c. its total spending is too low. d. firms make too many investments.