As the percentage of a group required for agreement approaches 100 percent, _____ costs _____
a. decision-making costs; increase
b. decision-making costs; decrease
c. political costs; increase
d. political costs; decrease
a
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In the above figure, if the minimum wage is equal to ________, there would be ________ hours of labor employed
A) $8 per hour; 4,000 B) $8 per hour; 2,000 C) $6 per hour; 3,000 D) $4 per hour; 2,000
Which of the following cannot be determined on the basis of the above regression results?
A) the degree of price elasticity of good B B) whether or not good A is "normal" C) the degree of competition between A and B D) All of the above can be determined.
A person who wins a large sum of money in the state lottery is likely to
a. increase the amount of market work offered at each wage rate b. not change the amount of work offered at each wage rate c. decrease the amount of work offered at each wage rate d. substitute market work for leisure time due to the substitution effect e. substitute market work for leisure time due to the income effect
In Figure 5.1, the demand curve that has a zero elasticity is show in graph:
A. A. B. B. C. C. D. D.