Work is an attractive use of your time
a. if the utility of consumption made possible by work exceeds the disutility of work itself
b. whenever you are paid a wage equal to or greater than the minimum wage
c. whenever you derive utility from the consumption made possible through work
d. unless time spent working is a source of disutility
e. only when marginal utility is negative for an additional unit of leisure
A
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A trade imbalance occurs when:
A. the quantity of imports equals the quantity of exports, but are large relative to total output. B. a country does not import or export any goods or services. C. exports from and imports to a country suddenly decline. D. the quantity of a country's exports differs significantly from the quantity of imports.
The natural rate of unemployment has increased in the United States and Europe over the last twenty years. What are things that could account for this?
What will be an ideal response?
The economic behavior of individual decision makers and the determination of price and output in specific markets are both studied in
a. microeconomics b. macroeconomics c. positive economics d. normative economics e. disequilibrium economics
Which of the following is concerned primarily with price discrimination?
a. The Sherman Antitrust Act. b. The Clayton Act. c. The Robinson-Patman Act. d. The Celler-Kefauver Act.