How much more do the Chefs value the high-end woks to the low-end woks?
a. $20
b. $30
c. $40
d. $50
c
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If the supply of automobiles becomes more inelastic, then a tax on automobiles is
A) paid more by the buyers after the change than before. B) paid more by the sellers after the change than before. C) always split evenly between the buyers and the sellers. D) paid more by the government after the change than before. E) always paid entirely by the buyers.
Martha and George have just completed a nasty divorce, and Martha won the lion's share of the settlement. What can we conclude about their lawyers?
A) George's lawyer was productive, Martha's wasn't. B) Martha's lawyer was productive, George's wasn't. C) Both Martha's and George's lawyers were productive. D) Neither lawyer was productive.
The largest component of our M1 money supply is
a. currency b. travelers' checks c. savings accounts d. money market accounts e. demand deposits and other checkable deposits
Economic discrimination puts the economy inside its production possibilities curve because discrimination:
A. redistributes income from low-paid to high-paid persons. B. promotes present consumption rather than production of capital goods. C. arbitrarily blocks women and certain minorities from higher-productivity, higher-wage jobs and thus keeps the economy from producing its maximum output. D. often causes inflation, which reduces the nation's real output.