Which of the following would least likely? be, for the typical? student, the opportunity cost of attending a class at? 11:00 a.m.?
Ans: Partying with a close circle of friends.
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If the United States places a limit on Chinese textile imports, this would be an example of
A. an embargo. B. a quota. C. a regulatory trade restriction. D. a tariff.
When the marginal product of labor exceeds the average product of labor, the average product must increase when employment increases
Indicate whether the statement is true or false
Equal increases in government purchases and taxes will:
A. increase the equilibrium GDP and the size of that increase varies directly with the size of the MPC. B. increase the equilibrium GDP and the size of that increase is independent of the size of the MPC. C. increase the equilibrium GDP and the size of that increase varies inversely with the size of the MPC. D. decrease the equilibrium GDP and the size of that decrease is independent of the size of
Refer to the information provided in Table 3.1 below to answer the question(s) that follow. Table 3.1Price per PizzaQuantity Demanded (Pizzas per Month)Quantity Supplied (Pizzas per Month)$31,200 600 61,000 700 9 800 80012 600 90015 4001,000Refer to Table 3.1. If the price per pizza is $3, the price will
A. decrease because there is an excess supply in the market. B. remain constant because the market is in equilibrium. C. increase because there is an excess demand in the market. D. increase because there is an excess supply in the market.