Data on wages, education, and many other characteristics of the population that are available to anyone who wants to use them are called:
A) public-use data. B) primary data. C) secondary data. D) private-use data.
A
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Given the data in the above table, the marginal revenue curve
A) lies below the demand curve. B) lies above the demand curve. C) intersects the demand curve. D) is equal to the demand curve.
Human capital is associated with
a. a doctor charging lower-income patients less b. a doctor paying rent for the office c. a doctor's stethoscope d. a doctor's knowledge of political events e. a doctor's skills in the operating room
Which of the following would NOT change demand?
A) the price of the product B) information about the product's health effects C) the income of the consumers D) the price of related products
For a demand curve to be upward sloping, the good would have to be an inferior good, and
A) the income effect would have to be larger than the substitution effect. B) the income effect would have to be smaller than the substitution effect. C) the income effect would have to be equal to the substitution effect. D) the income effect and the substitution effect would have to be nonexistent.