Which of the following is most likely to be a fixed cost for farmer McDonald?
Fertilizer
A. Gasoline
B. Fertilizer
C. Insurance
D. Seed
Answer: C
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If the elasticity of supply of labor is low and the elasticity of demand for labor is high, then workers pay most of the Social Security tax levied on labor
Indicate whether the statement is true or false
Which of the following is not a benefit to lenders/investors of financial intermediation?
a. More diversification than the direct market. b. More convenient than the direct market. c. Higher yield than the direct market. d. All the above are benefits to lenders. e. Lower risks than the direct market.
In the real world:
A. price discrimination has only been observed where monopolies are present. B. businesses can easily identify different groups' willingness to pay, so price discrimination is prevalent in every market. C. perfect price discrimination is impossible. D. price discrimination is practiced less today than it was in the mid-1900s.
Figure 10-7
Refer to Figure 10-7. Which of the diagrams in Figure 10-7 represents a decrease in consumer spending combined with a positive supply shock?
a.
Panels (A) & (B)
b.
Panels (C) & (D)
c.
Panels (A) & (C)
d.
Panels (B) & (D)