Refer to the scenario above. What is the size of the labor force in the economy?
A) 6 million B) 3 million C) 4 million D) 5 million
C
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One of the primary determinants of planned real investment spending is the
A) rate of real government spending. B) rate of real saving. C) expectation of future profits. D) rate of real consumption spending.
A sales tax is imposed on the sellers of gasoline. This tax shifts
A) the supply of gasoline curve leftward. B) the supply of gasoline curve rightward. C) the demand for gasoline curve leftward. D) both the supply curve of gasoline and demand curve for gasoline leftward.
A single-period duopoly firm can choose output level A or B. The firm decides it will produce level A regardless of what the other firm produces. This decision may occur because
A) producing the output level A is a dominant strategy. B) this firm has simply decided to always produce at level A. C) Both A and B are possible. D) None of the above.
A business organization that employs resources to produce goods and services for profit is
A) economic rent. B) a firm. C) inside information. D) the opportunity cost of capital.