A capital gain is
A. an increase in the value of an asset over the price initially paid for it.
B. a financial instrument that gives the holder a share in the ownership of a firm and therefore the right to share in the profits of the firm.
C. the portion of a corporation's profits that the firm pays out each period to its shareholders.
D. the difference between an individual's economic income and money income.
Answer: A
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In the above figure suppose a minimum wage of $8 per hour is imposed. As a result, the quantity of labor supplied is ________ hours and the quantity of labor demanded is ________ hours
A) 3,000; 4,000 B) 4,000; 4,000 C) 2,000; 4,000 D) 4,000; 2,000
Historical data on prices and quantities sold do not provide the basis for drawing an accurate demand curve because
a. reporters who gather these data are often wrong. b. factors other than price may change over time. c. they do not include measures of price close to the quantity axis. d. they sometimes tend to be clustered around one point.
Assume product A is an input in the production of product B. In turn product B is a complement to product C. We can expect a decrease in the price of A to:
A. decrease the supply of B and decrease the demand for C. B. increase the supply of B and increase the demand for C. C. decrease the supply of B and increase the demand for C. D. increase the supply of B and decrease the demand for C.
Which of the following directly shifts the short-run aggregate supply curve?
A) a change in aggregate demand B) a change in the price level C) a change in resource prices D) all of the above