Which of the following would most likely NOT be taught in a microeconomics course?
A) changes in prices of automobiles
B) the effects of a gas tax on gas purchases
C) the effect of an increase in wheat prices on farmers' behavior
D) the unemployment rate
D
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Refer to Table 21.1. What is the median income on Richlandia?
A) $40,000 B) $69,000 C) $75,000 D) $85,000
Which of the following is NOT true for a perfectly competitive firm in the long run?
A) MR = MC B) MC > LAC C) Price = MC D) SAC = LAC
According to the graph shown, the amount of consumer surplus domestic consumers enjoy once a tariff has been imposed is:
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
A. A
B. ABC
C. ABCDEFG
D. ABCDEFGHIJKL
In general, stocks are _________ risky than bonds, and have a _________ rate of return.
A. more; higher B. more; lower C. less; higher D. less; lower