Refer to the information provided in Figure 24.3 below to answer the question(s) that follow.
Figure 24.3Refer to Figure 24.3. The tax multiplier is
A. -4.
B. -2.5.
C. -2.
D. -1.5.
Answer: D
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If the players in the figure shown act in their own self-interest, then we know that Adidas will earn:
A. $2 million.
B. $8 million.
C. $6 million.
D. $10 million.
Which of the following would lead to a change in both the quantity of a good buyers wish to purchase and in the quantity sellers wish to sell?
a. a change in the price of a substitute good b. a change in buyers' incomes c. a change in the price of a key input d. a technological improvement e. a change in the expected future price of the good
How does a change in demand differ from a change in the quantity demanded? a. A change in demand can only be caused by a change in price, whereas a change in quantity demanded can be caused by anything other than a change in price
b. A change in quantity demanded is a shift of the demand curve, whereas a change in demand is a movement along the demand curve. c. A change in demand can only occur in the long run, whereas a change in quantity demanded is specifically short run. d. A change in demand is a shift of the demand curve, whereas a change in quantity demanded is a movement along the demand curve. e. A change in demand can only occur in the short run, whereas a change in quantity demanded is specifically long run.
There are several assumptions that are the basis of the operation of the benchmark competitive labor market. Which of the following is not one of these assumptions?
A. Wage rates are costlessly observable. B. Compensation is made up of wages and benefits. C. There are no long-term contracts. D. All jobs are identical.