When the price of a good is high, selling the good is profitable, and so the quantity supplied is large
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose that the labor market for life guards is initially in equilibrium. Whistles are an important safety tool that life guards use as a part of their jobs. A fire destroys the largest factory that produces whistles. In the market for life guards the equilibrium wage
a. increases because the marginal productivity of life guards increases. b. decreases because the marginal productivity of life guards decreases. c. increases because the supply of life guards increases. d. decreases because the supply of life guards decreases.
The average income tax rate is:
a. income taxes divided by income. b. income divide by income taxes. c. the change in income taxes when income changes one dollar. d. the change in income when income taxes change one dollar.
Explain how an economic populist regime usually progresses
What will be an ideal response?
Refer to the information provided in Table 20.4 below to answer the question(s) that follow. Table 20.4GermanyChileBeerWineBeerWine(cases)(cases)(cases)(cases)75030 060152412453018 24304512 361560 6 48075 0 60 Refer to Table 20.4. Chile should specialize in and export ________, and Germany should specialize in and export ________.
A. wine; wine B. wine; beer C. beer; wine D. beer; beer