In the United States, paper currency is printed at the
A) Bureau of Engraving and Printing.
B) Federal Reserve District banks.
C) U.S. Mint.
D) U.S. Treasury.
A
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Ricardo likes to rent DVDs and attend concerts. The DVDs cost $4 and the concerts cost $40. Ricardo's marginal utility from the last DVD is 20 units. Ricardo is maximizing his utility. What is his marginal utility from the last concert he attended?
What will be an ideal response?
Optimal commodity taxation would
A. put a tax on leisure time, which is currently untaxed. B. have the smallest amount of excess burden possible for a given amount of tax revenue. C. optimize tax rates on the wealthiest Americans. D. eliminate tax evasion in the United States.
Joey cuts grass during the summer. He rents a lawn mower from his dad. Which of the following statements best illustrates the difference between the short run and the long run for Joey?
A) Joey's friends say they will help him, but when he calls them, they say they have other things to do. B) When Joey acquires more customers, he responds by working more hours. Next year, he will buy a lawn mower and split the work with his brother. C) Some customers pay Joey immediately; others wait till the following week. D) Joey has had to turn away some customers because he is already too busy.
Unions often have the power to push wages above competitive levels
a. True b. False Indicate whether the statement is true or false