Your college has three meal plans. One is for 21 meals a week, another for 14 and a third offers only 7. You don't know the price yet but you are certain the 21 would be best. However, your second choice would be to take only the 7 meal plan and if you had to pick a third choice it would be the 14 meal plan. This preference pattern doesn't fit the indifference curve assumption of
A. convexity.
B. completeness.
C. transitivity.
D. none of these because it does not violate any of the assumptions.
Answer: C
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Damian owns a tattoo parlor and has hired three tattoo artists to work for him. The marginal product of labor is 8 for the first artist, 12 for the second artist, and 7 for the third artist
What is Damian's average product of labor for these three tattoo artists?
Income taxes cause _____
a. individuals to substitute towards leisure b. individuals to substitute towards jobs with more in-kind benefits c. individuals to work in underground markets d. all of the above
The first labor unions in the United States were
A) public-sector unions. B) industrial unions. C) guilds. D) craft unions.
Payments by the government to the public for which the government receives no current goods or services in return are called:
A. capital losses. B. net taxes. C. public saving. D. transfer payments.