When the wage increases:
A. all workers will work more hours.
B. all workers will work fewer hours.
C. some workers will work more hours and some workers will work fewer hours, but on average, hours worked will increase.
D. some workers will work more hours and some workers will work fewer hours, but we don't know whether average hours will increase or decrease.
Answer: D
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Fred purchases a bond, newly issued by the Big Time Corporation, for $10,000. The bond pays $400 to its holder at the end of the first, second, and third years and pays $10,400 upon its maturity at the end of four years. The principal amount of this bond is ________, the coupon rate is ________, and the term of this bond is ________.
A. $10,000; 4%; four years B. $10,000; $400; 4% C. $400; 40%; four years D. $10,400; 4%; four years
A falling average cost implies that
a. marginal cost is above average cost b. marginal cost is below average cost c. marginal cost is equal to average cost d. none of the above
When a good is subsidized by the government, the amount of the good produced or consumed declines
a. True b. False Indicate whether the statement is true or false
Which statement is true?
A. The federal personal income tax is a proportional tax. B. The cigarette tax is an excise tax. C. The tax on gasoline is a direct tax. D. None of these statements are true.