If tolls on a toll road can be raised significantly before commuters will consider using a free alternative, then an increase in tolls will result in
A) a decrease in total revenue.
B) a decrease in non-toll road usage.
C) an increase in total revenue.
D) an increase in toll road usage.
Answer: C
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Purchasing additional equipment for more people to use or share in a production environment usually results in a
A) higher level of output. B) more expensive level of output. C) backlog of production. D) worker sharing his or her load.
What is the exchange rate between the dollar and the British pound if a pair of American jeans costs 50 dollars in New York and 100 Pounds in London?
A) 1.5 dollars per British pound B) 0.5 dollars per British pound C) 2.5 dollars per British pound D) 3.5 dollars per British pound E) 2 dollars per British pound
The U.S. has one of the highest unionization rates of all the industrialized countries around the world
a. True b. False Indicate whether the statement is true or false
Producers of paper products are most likely to be in favor of
A. Free trade in the paper product market but protectionism in the lumber market. B. Protectionism in the paper product market but free trade in the lumber market. C. Free trade in the paper product market and the lumber market. D. Protectionism in the paper product market and the lumber market.