If Z is an inferior good, an increase in money income will shift the:
A. supply curve for Z to the left.
B. supply curve for Z to the right.
C. demand curve for Z to the left.
D. demand curve for Z to the right.
Answer: C
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Refer to Table 4-4. If a minimum wage of $9.50 an hour is mandated, what is the quantity of labor demanded?
A) 380,000 B) 370,000 C) 360,000 D) 10,000
When a government spends more than it earns in revenue, we say that it has a:
A. budget surplus. B. budget deficit. C. budget crisis. D. federal debt.
IBM and Sara Lee are two of the biggest firms in the United States, but they produce different products. Could they legally merge, or would their merger be struck down by the courts?
The principal objective of WTO is to:
a. encourage countries to establish quotas. b. establish fair prices for all goods traded internationally. c. reduce the level of all tariffs. d. prevent the trading of services across nations' borders.