If the graph shown is displaying a competitive market and the market is currently offering a wage less than P*:
A. firms will have a hard time finding employees.
B. there would be excess workers who want to work at that wage.
C. there would be unemployment in the market.
D. firms would be forced by government to adjust their wages back to equilibrium.
Answer: A
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In the following table, fill in the columns for your return on investment if the price of your house increased or decreased by 40 percent, based on the down payments specified in the first column
Return on Your Investment From Down Payment A 40 Percent Increase in the Price of Your House A 40 Percent Decrease in the Price of Your House 100% 20 10 5
There are asymmetric incentives to support and to oppose protectionist trade policies, with the stronger incentives going to those that would seek protection
Indicate whether the statement is true or false
If chain-weighted increases in real GDP for 2002-03, 2003-04, 2004-05, 2005-06, and 2006-07 are 5%, 4%, 2%, 1%, and 3% respectively, and nominal GDP in the 2002 base year is $6244.4 billion, then chain-weighted real GDP for 2007 is
A) $6987.02 billion. B) $7,181.06 billion. C) $7235.6 billion. D) $7239.0 billion.
For a monopolist, total revenues will:
A. increase and eventually decrease as output increases. B. decrease and eventually increase as output increases. C. always increase as output increases. D. always decrease as output increases.