If one person’s use of a good does not diminish another’s ability to use it, the good is _
a. excludable
b. nonexcludable
c. rival
d. nonrival
d. nonrival
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The term "payroll taxes" is often used to refer to
A) individual income taxes that are withheld from paychecks. B) sales taxes. C) corporate income taxes. D) Social Security and Medicare taxes.
If the price of a digital SLR camera in Japan is ¥55,000 . and the exchange rate is 93 ¥/$, calculate the dollar price of the digital SLR camera in Japan
a. $603.29 b. $397.48 c. $886.82 d. $591.40 e. $101
Measured unemployment may be lower than actual unemployment because:
A. measured unemployment does not include the frictionally unemployed. B. some individuals may want a job but have become discouraged and stopped looking for one. C. some individuals claim to be unemployed when they are not looking very seriously for a job. D. measured unemployment does not include teenage unemployment.
Which of the following is the set of conditions necessary for long-run equilibrium for a perfectly competitive firm?
A. P = SRMC = SRAC > LRAC B. P = SRMC < SRAC = LRAC C. P > SRMC = SRAC = LRAC D. P = SRMC = SRAC = LRAC