Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward
B. Short-run aggregate supply shifting downward
C. Aggregate demand shifting rightward
D. Aggregate demand shifting leftward
Answer: B
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The profit-maximizing employment level for a monopsonist occurs where:
a. wage = MFC. b. wage = MRP. c. price = wage. d. wage = TWC. e. MRP = MFC
?19742015Minimum wage per hour$ 2.00$ 7.25Weekly income from minimum wage$80.00$290.00Cost of a standard basket of goods$47.00$236Number of baskets per week1.701.23
Use Table 2.5 above to answer the question. By what percentage did the federal minimum wage increase between 1974 to 2015?
A. 72.41 percent B. 262.5 percent C. 362.5 percent D. 525.0 percent
Suppose that a powerplant is given a permit to pollute 10 tons of carbon into the atmosphere. As the powerplant operates, it can generate $200 of profit selling electricity per ton of carbon that it sends into the atmosphere. If the price of the carbon permit is $300 per ton, then:
A. the powerplant is better off shutting down and selling its permit. B. the powerplant is better off buying more permits and selling more electricity. C. the powerplant is better off selling electricity and using the permits to pollute 10 tons of carbon. D. the powerplant is better off shutting down and buying more permits.
Suppose your grandmother dies and leaves you $100,000, but it will be held (without interest accruing) for another two years. You are trying to figure out how much you can borrow now, so that when you get the money, it can be paid off with this $100,000. What concept would you use?
A. The Rule of 72 B. Internal Rate of Return C. Future Value D. Present Value