If tariffs are decreased, the long-run effect is most likely to be
a. a decrease in both U.S. imports and exports.
b. an increase in both U.S. imports and exports.
c. a decrease in U.S. imports and an increase in U.S. exports.
d. an increase in U.S. imports and a decrease in U.S. exports.
B
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Increases in the supply of scientists and engineers can increase the level of
a. investment. b. consumption. c. government spending. d. technology.
Table 31.1Wage rate (dollars per hour)Labor demanded (workers)Total labor cost(dollars per hour)Marginal Wage (dollars per worker)$260________---222________________184________________146________________108________________Table 31.1 shows the number of workers a firm is willing to hire per hour at different wage rates. Complete the table by computing the total wage bill (total labor cost) and the marginal wage. Assume the union collects dues of 1 percent of the total wage bill. How many workers would the union want hired in Table 31.1 if its goal was to maximize the amount of dues collected?
A. 8. B. 2. C. 4. D. 6.
Based on the multiplier effect, what does each successive round of purchasing do?
a. decrease aggregate demand and supplier income b. increase aggregate demand and supplier income c. decrease aggregate demand, and increase supplier income d. increase aggregate demand, and decrease supplier income
Dead capital is
A. a capital resource that lacks clear title of ownership. B. machinery that fails to operate properly. C. machinery that requires constant maintenance. D. a capital resource that depreciates rapidly.