The American Federation of Labor is an example of a professional association.
Answer the following statement(s) true (T) or false (F)
Ans: False
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If the economy is producing at point B, the opportunity cost of gaining 12 units of consumer goods is _______ units of capital goods.
When deciding to implement a congestion tax, economists and the government would use the elements of the economic way of thinking to primarily determine
A) what tax amount should be charged. B) who should be exempt from the tax. C) if the tax would be allocated equitably. D) how much revenue will the tax generate.
Which of the following is true about per capita income?
A) it is an approximate measure of how rich or poor a country is B) it is the same as income per worker only if everyone in the economy is assumed to work C) it is the product of TFP and capital per worker only if everyone in the economy is assumed to work D) all of the above E) none of the above
When the price of hamburger went from $3 to $4 a pound, the quantity demanded of buns changed from 30 to 25 packages a day. The cross-price elasticity of demand for buns (using the initial value formula) is:
A. 1.4. B. 0.5. C. -0.5. D. -1.4.