Only a bare majority of minority and women workers favor special preferences
Indicate whether the statement is true or false
T
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Which of the following will cause the demand curve for a good to shift to the right?
a. Decrease in income for a normal good. b. Increase in the price of a complementary good. c. Decrease in the price of the good. d. Increase in the price of a substitute good. e. Expectation of a future price decline.
A farmer sells $25,000 worth of apples to individuals who take them home to eat, $50,000 worth of apples to a company that uses them all to produce cider, and $75,000 worth of apples to a grocery store that will sell them to households. How much of the farmer's sales will be included as apples in GDP?
a. $25,000 b. $150,000 c. $100,000 d. $125,000
Consider the case of two farmers, Tony and Hakim, depicted in the following figure. Both use DDT (a chemical pesticide) for their crops. The use of DDT causes an externality for swimmers down river from the farms.
(a) Show the amount of pesticides used if each uses the privately optimal level of pesticides.
(b) Show the amount of pesticides used if they are socially concerned.
(c) Why is a reduction back to X H = H T not socially desired?
The two primary reasons to adopt measures to restrict trade are that
A. they help keep real wages high in the importing country, and they also permit small businesses to compete in international markets. B. they may help the importing country improve its educational system, and they keep high-technology products from being stolen by foreign competitors. C. they may help the importing country get better prices for its goods, and they protect certain industries from foreign competition. D. they may help advance the political goals of the nation, and they encourage productivity in domestic industries.