If there is an increase in the nominal (money), the real wage
A. will also rise.
B. will also rise, unless the consumer price index rises.
C. will also rise, unless the consumer price index rises as much or more than the nominal (money) wage.
D. None of the choices are true.
C. will also rise, unless the consumer price index rises as much or more than the nominal (money) wage.
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One reason why African elephants are endangered is _____
a. the low cost of hunting exhibitions b. exploitation by zoo owners c. many natural predators d. governments often prohibit private ownership
The late business historian Alfred Chandler blamed Britain's competitive difficulties in the early twentieth century on:
a. the structure of the firms. b. the removal of trade barriers. c. the lack of innovation. d. inefficient transfer of information within firms.
A given change in disposable income would have the smallest effect on consumption with which of the following marginal propensities to consume?
a. 0.4 b. 0.6 c. 0.8 d. 0.2
Refer to Figure 8.6, which shows just three of a firm's various possible short-run average cost curves. Suppose the firm is currently producing 160 units at an average cost of $90 per unit. Which of the following statements is true?
A. The firm could reduce its short-run average cost by producing more output.
B. The firm could reduce its short-run average cost by producing less output.
C. The firm is producing the level of output that minimizes short-run average cost.
D. The firm is producing its output at the lowest possible long-run average cost.