The head tax is regressive
a. True
b. False
Indicate whether the statement is true or false
True
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The figure above represents the competitive market for slices of key lime pie. When the price is $3, the total consumer surplus equals
A) $120. B) $90. C) $60. D) $0. E) None of the above answers is correct.
In the 1970s, savings and loan associations primarily earned their income from extending fixed-rate home loans. They extended many of these loans in the early 1970s when inflation was low. Were the savings and loans winners or losers as inflation skyrocketed in the late 1970s?
Which of the following best describes the difference(s) between a model and a theory?
a. A theory is a more abstract representation, while a model is more applied or empirical representation. b. A model is a more abstract representation, while a theory is more applied or empirical representation. c. Theories are used to test models. d. Models have been proven, but theories are still being investigated.
A monopsonistic employer in an unorganized (nonunion) labor market will:
A. pay a wage rate less than labor's MRP. B. pay the same wage rate but hire fewer workers than if the market was purely competitive. C. hire the number of workers indicated by the intersection of the MRC and the labor supply curves. D. pay a wage rate in excess of labor's MRP.