A government program that reduces land under cultivation can help farmers by raising prices but hurts consumers
a. True
b. False
Indicate whether the statement is true or false
True
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In the above figure, as Brendan's income rises his consumption bundle moves from point A to point C. This implies that for Brendan, compact discs are ________ good and haircuts are ________ good
A) a normal; an inferior B) a normal; a normal C) an inferior; an inferior D) an inferior; a normal
A linear downward-sloping demand curve has price elasticities (in absolute values) that
A) remain constant along the demand curve. B) decrease as price decreases. C) increase as price decreases. D) are greater than or equal to 1.
Which of the following about employment discrimination is true?
a. Employers who discriminate against blacks and other minorities will have lower costs than rival firms that hire employees strictly on the basis of productivity. b. After adjusting for factors such as education, experience, and location, the earnings of black men are almost identical to the earnings of white men. c. If minority and white employees in a skill category are equally productive, the profit motive provides employers with a strong incentive to hire minority employees if they are available at a lower wage. d. The empirical evidence indicates that the earnings gap between whites and blacks is entirely the result of worker preference.
If the government imposes an excise tax on cars equal to $5,000 per automobile, the supply of automobiles will shift to the:
A. right and the price of automobiles will decrease by an unknown amount. B. right and the price of automobiles will decrease by $5,000. C. left and the price of automobiles will increase by $5,000. D. left and the price of automobiles will increase by an unknown amount.