Refer to Figure 8.5. An efficiency wage in this economy would be represented by a real wage of ________ and an employment level of ________
A) w1; L1
B) w1; L2
C) w2; L1
D) w2; L3
C
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A popular dinner among college students today is sushi, green tea, and wasabi dip so these foods are complements. If the price of green tea increases and the price of wasabi dip increases, what would be the effect on demand for sushi at lunch?
A) The demand for sushi would decrease. B) The demand for sushi would increase. C) The demand for sushi would be unaffected, but the price would increase. D) The demand for sushi would be unaffected, but the price would decrease. E) The demand for sushi could increase or decrease.
You went to a craft show and paid an exorbitant price for an embroidered shawl that the seller said was hand-embroidered and had been imported from India
Several months later, you find a similar shawl in another showroom at a much lower price and found out that the one you bought was not an imported one. This is an example of ________ in the market for embroidered shawls. A) asymmetric information B) positive externalities C) negative externalities D) the free-rider problem
When formulating financial policy, managers also have to consider the appropriate balance between:
A. receivables and payables. B. interim and final dividends. C. short-term and medium-termfinance. D. short-term and long-termfinance.
Other things the same, if the price level rises by 2% and people were expecting it to rise by 5%, then some firms have
a. higher than desired prices, which increases their sales.
b. higher than desired prices, which depresses their sales.
c. lower than desired prices, which increases their sales.
d. lower than desired prices, which depresses their sales.