Which of the following would result from a tariff?
a. An increase in government budget deficit
b. An increase in domestic production
c. A greater volume of international trade
d. Increased domestic consumption
e. Decrease in prices of the imported goods
b
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The median wage among physicians is over $166K a year, while the median salary for physician assistants is $86K a year
These salaries suggest that physicians have ________ human capital than physician assistants and hence the demand for labor for physicians is ________ than the demand for labor for physician assistants. A) more; less B) more; greater C) less; greater D) less; less
Ray's Radios believed the synergies between radio production and battery production could be realized if he expanded. However, due to overseeing the battery expansion Ray devoted less time to the radio business leading to the radio unit costs increasing. Ray's Radios is experiencing
a. Economies of scale b. Economies of scope c. Diseconomies of scale d. Diseconomies of scope
In an open economy, an increase in (G ? T) will
a. decrease (X ? IM). b. increase (X ? IM). c. leave (X ? IM) unchanged. d. have an unpredictable effect on (X ? IM).
The number of people willing to buy tickets to the Super Bowl is invariably greater than the number of tickets (and seats) available. This is evidence that the price of the tickets is
What will be an ideal response?