Angelina Jolie's economic rent from starring in a movie is equal to the difference between:
A. her final salary and what she could earn by starring in a different movie.
B. her final salary and the least she would be willing to accept to star in the movie.
C. her initial salary offer and her final salary, including royalties.
D. her final salary and the average salary for leading actresses.
Answer: B
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An economy's ________ during a recession
A) labor supply curve shifts to the right B) labor demand curve shifts to the right C) labor supply curve shifts to the left D) labor demand curve shifts to the left
Data collected on a sample of individuals with different characteristics at a specific point in time are called:
A) cross-section data. B) time series data. C) panel data. D) none of the above.
Higher indifference curves are preferred to lower ones as long as the
a. marginal rate of substitution is diminishing. b. products in the bundle are "bads" and not "goods.". c. products in the bundle are "goods" and not "bads.". d. budget constraint does not shift.
Progressive taxes are designed to make higher earners pay ______.
a. a lower percentage but more total taxes than others b. a higher percentage and more total taxes than others c. a higher percentage but less total taxes than others d. the same percentage but more total taxes than others