If average labor productivity decreases, then the same number of employed workers will always produce:
A. more total output.
B. less output per person.
C. less total output.
D. more output per person.
Answer: C
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As the price of dvds increases from $3 to $5, the quantity demanded falls from 220,000 to 180,000 . The price elasticity of demand for dvds is:
a. -0.40 b. -0.33 c. -3.00 d. -2.50
Many economists conclude that in-kind income programs have served to increase levels of inequality significantly from the levels suggested by aggregate income statistics
a. True b. False Indicate whether the statement is true or false
A formalwear shop will earn a net income of $1,500 per year on a tuxedo. A tuxedo is good for two years, after which it will be worn out and worthless. If the interest rate is 10 percent (0.10) per year, what is the present value of a new tuxedo to the shop? (Assume that each year's income is received at the end of the year.)
a. $148.76 b. $2,955.30 c. $2,955.59 d. $2.603.31 e. $3,000.00
Suppose the marginal cost of dating Perry is $30 and the marginal benefit is worth $40 to you. Following economic reasoning, you should:
A. determine what your sunk costs are. B. date Perry. C. not date Perry. D. determine what your total benefits and total costs are.