Bad weather is likely to
A) raise the total revenue farmers receive for their foodstuffs, assuming that demand for their products is inelastic.
B) lower the total revenue farmers receive for their foodstuffs, assuming that demand for their products is elastic.
C) leave the total revenue farmers receive for their foodstuffs unchanged.
D) change the income elasticity of demand for food.
E) c and d
A
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Between 1960 and 2011,
A) the male labor force participation rate decreased rapidly, the female labor force participation rate decreased slowly, and the two rates are now equal. B) the male labor force participation rate decreased and the female labor force participation rate increased. C) both the male and female labor force participation rates increased. D) both the male and female labor force participation rates decreased slowly. E) the male labor force participation rate did not change and the female labor force participation rate increased.
Construction work is much riskier than working as a server at a restaurant. As a result, we'd expect a difference in wages between the two jobs. The difference is known as
a. an efficiency wage. b. a compensating differential. c. a wage adjustment. d. a minimum wage.
In the open-economy macroeconomic model, if a country's supply of loanable funds shifts right, then
a. net capital outflow rises, so the exchange rate rises. b. net capital outflow rises, so the exchange rate falls. c. net capital outflow falls, so the exchange rate rises. d. net capital outflow falls, so the exchange rate falls.
According to the marginal? principle, it is logical to
According to the marginal? principle, it is logical to
A.
choose a level at which marginal benefit exceeds marginal cost.
B.
increase the level of an activity as long as its marginal cost exceeds its marginal benefit.
C.
choose a level at which marginal cost exceeds marginal benefit.??
D.
increase the level of an activity as long as its marginal benefit exceeds its marginal cost.