The broad field of _____________ would most likely study how all consumers respond to a hike in cigarette taxes.
A. microeconomics
B. development economics
C. macroeconomics
D. labor economics
A. microeconomics
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________ when its inventory increases
A) A firm's total product curve is likely to shift upward B) A firm's labor demand curve is likely to shift to the left C) A firm's cost curve is likely to shift downward D) A firm's labor demand curve is likely to shift to the right
A decision or a choice that is made after using optimization analysis:
A) has zero opportunity cost. B) is not necessarily risk free. C) is the same for all individuals. D) cannot be justified using normative analysis.
From the profit maximizing conditions for the Cobb-Douglas production function, we find that the optimal input demands for labor and capital may be related as L = brK/(aw). Under what conditions are the expenditures on capital and labor equal?
A) Constant returns to scale B) Increasing returns to scale C) Decreasing returns to scale D) a = b
Assume that a British investor buys a one-year U.S. Treasury bill that pays 6 percent annual interest. Given a yield of 4 percent on a comparable British Treasury bill, the U.S. dollar must depreciate 2 percent against the British pound during the year for interest rate parity to hold
a. True b. False Indicate whether the statement is true or false