From 1978 to 2003, the economy of ________ grew on average 9 percent per year, a rate faster than any other country in the world.
A. India
B. Russia
C. China
D. the United States
Answer: C
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A government-imposed price floor above the market price of milk would increase consumers' expenditures on milk only if
a. demand is elastic b. supply is inelastic c. demand falls d. demand is inelastic e. supply is unit elastic
Is there any way to conduct fiscal policy and avoid the lags involved with discretionary policy?
Refer to Table 17-2. What is the profit-maximizing quantity of labor that the firm should hire?
A) 5 units B) 4 units C) 3 units D) 2 units
What is the shape of the labor supply curve implied by the following statements?
a. "I'm sorry, kids, but now that I'm earning more, I just can't afford to come home early in the afternoon, so I won't be here when you get home from school." b. "They can pay me a lot or they can pay me a little. I'll still put in my 8 hours a day." c. "Now that I have received a salary increase, I am going to work 36 hours instead of 40 hours a week"