Production data for Joe's Pizza Parlor are as follows. For simplicity assume that labor is the only input. Each pizza sells for $5. Number of WorkersPizzas Baked Per Day00110218324430532How many workers will Joe hire if he must pay each one $25 a day?
A. 1
B. 2
C. 3
D. 4
Answer: A
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The above figure shows the Lorenz curve for wealth for the nation of Rusha. The poorest forty percent of the population own what percent of wealth?
A) 0 percent B) 10 percent C) 20 percent D) 40 percent
To say that a price floor is binding is to say that the price floor
a. results in a shortage. b. is set below the equilibrium price. c. causes quantity supplied to exceed quantity demanded. d. All of the above are correct.
Susan won $2,000 at the blackjack tables on her birthday. Her winnings are an example of
a. permanent income. b. life-cycle income. c. transitory income. d. an in-kind transfer.
In the long run, an increase in FDI in the manufacturing sector will __________ the return to capital in the ____________ sector(s).
a. decrease; agriculture b. increase; manufacturing c. decrease; manufacturing d. not change; manufacturing or agriculture