Which of the following examples shows a change in âTâ in the acronym PYNTE?
a. The price of a complementary good decreases.
b. The average income of women over 30 increases.
c. More people like Thai food.
d. More people assume products made in South Korea will be high quality.
c. More people like Thai food.
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The labor demand curve of an imperfectly competitive seller is downward sloping
A. solely because of diminishing marginal utility. B. solely because of diminishing returns. C. because of both diminishing returns and the necessity to lower price to sell more output. D. solely because product price must be reduced to sell more output.
You are given the following information
Savings S = 150 Investment I = 100 Taxes T = 250 Government Purchases G = 500 Compute the level of private savings, public savings, national savings, and net exports.
Recently, Chrysler bonds with a face value of $100 closed at $103. The coupon rate was 12.75 percent. The current yield on these bonds was
A. 103 percent. B. 3 percent. C. 12.75 percent. D. less than 12.75 percent.
The demand for labor is a derived demand. Employers hire workers until the
a. wage rate equals the average product of labor. b. wage rate equals the marginal revenue product of labor. c. last worker hired adds nothing to total output. d. average product of labor is zero.