Refer to Figure 1A.1. If the hours worked per week are 30, the income per week is
A) 50. B) 100. C) 150. D) 200.
D
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When the Fed receives an inflow of Federal Reserve notes, its
A) assets rise. B) liabilities decline. C) liabilities increase. D) assets decline.
Davis and Huttenback (1982) find evidence to support the claim that the colonists were overtaxed by England
Indicate whether the statement is true or false
A consumer's demand curve for apples
a. is derived by varying the price of apples and determining the quantities of apples at which the marginal utility per dollar spent on apples equals the marginal utility per dollar spent on other goods b. is derived by determining how many apples will be purchased at different levels of income c. is derived by varying the prices of other goods and determining the quantities of apples at which the marginal utilities per dollar spent on all goods are equal d. slopes downward whenever the income and substitution effects cancel out e. will be vertical if the substitution effect outweighs the income effect
When the price of wheat increases, the producers of bread will supply more bread at each price
Indicate whether the statement is true or false