A price decrease causes a consumer's "real" income to:

A. increase.
B. remain unchanged.
C. decrease.
D. decrease or increase depending on the size of the price change.


Answer: A

Economics

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In the above table, the marginal product of the 7th worker is 6. What is the total product when 7 workers are employed?

A) 68 B) 70 C) 72 D) 76

Economics

Refer to the table below. If Fresh Laundry is currently producing 8 quality units, to maximize profit, Fresh Laundry should ________ the number of quality units as the current quality marginal revenue is ________ its marginal cost.


Fresh Laundry is a firm that produces laundry detergent. The table above summarizes Fresh Laundry's product quality marginal revenue and marginal cost at various quality levels.

A) increase; less than
B) maintain; greater than
C) increase; equal to
D) maintain; equal to

Economics

Relative to the white median family income, since 1980 African-American median family income has ________ and Hispanic median family income has __________

a. increased; also increased b. fallen; also fallen c. increased; remained about the same d. fallen; increased

Economics

Dividends are paid by firms to shareholders.

Answer the following statement true (T) or false (F)

Economics