Which of the following is an example of a long-run adjustment?
A) Your university offers Saturday morning classes next fall.
B) Ford Motor Company lays off 2,000 assembly line workers.
C) A soybean farmer turns on the irrigation system after a month long dry spell.
D) Walmart builds another Supercenter.
Answer: D
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Without any change in the supply of labor, how will shifts in the demand for labor affect equilibrium wage and employment?
What will be an ideal response?
The table above gives Cathy's total utility from Mt. Dew. If the price of a Mt. Dew is $1.50, Cathy's marginal utility per dollar from the 4th Mt. Dew is ________ units per dollar
A) 15 B) 10 C) 82.5 D) 22.5
Kenneth Arrow proved that the voting system that satisfied all of the properties of his "perfect" voting system was
a. one in which a single person (a "dictator") imposes his preferences on everyone else. b. pairwise majority voting. c. majority voting that is not pairwise. d. None of the above is correct. Arrow proved that no voting system can satisfy all of the properties of his "perfect" system.
A resident of the U.S. just purchased a share of stock on the London stock market. As far as the U.S. balance of payments this purchase will
A) have no influence on the balance of payments since stock is not a good or service. B) be entered as a unilateral transfer in the current account. C) be entered in the financial account. D) require special drawing rights.