Adriana wants to try working as an independent contractor this summer. She has a 50 percent chance that she will make $9,000 and 50 percent chance that she will make nothing. What's Adriana's expected income?
A) $4,000
B) $4,500
C) $2,000
D) $3,000
B
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Refer to Figure 5-16. What is the optimal quantity of street lights to install?
A) 3 B) 4 C) 6 D) 9
The deadweight loss of a specific tax will be a small share of the tax revenue collected if:
A) supply is more inelastic than demand. B) demand is more inelastic than supply. C) supply and demand are both elastic. D) supply and demand are both inelastic.
The number of cases of Coca-Cola bought increased by 50 percent when the price of pretzels declined by 10 percent. Assuming other factors are held constant, Coca-Cola and pretzels are classified as:
a. complements. b. unrelated goods. c. substitutes. d. social goods.
In an economy without a government and without international transactions, aggregate expenditure at each level of income is equal to: a. consumption plus saving
b. planned investment plus saving. c. disposable income plus the price level. d. consumption plus planned investment. e. planned investment minus saving.