Other things remaining the same, in the long-run as compared to the short-run
A. supply elasticity will decrease.
B. supply elasticity will increase.
C. supply elasticity will remain the same.
D. one cannot tell.
Answer: B
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If the level of government spending rises and simultaneously there is a fall in the money stock, we definitely know that
a. income will rise. b. the change in the interest rate will be ambiguous. c. income will fall. d. the interest rate will fall. e. None of the above
Only about one out of three custodial mothers who are poor gets any child support payments
Indicate whether the statement is true or false
How would a $10 increase in per-unit input costs affect a price-taking firm's supply curve?
A. MC would increase by $10, and AC would decrease by $10.
B. AC would increase by $10, and MC would decrease by $10.
C. MC and AC would both decrease by $10.
D. MC and AC would both increase by $10.
The total earnings of a worker are represented by E = 100 + $10(24 ? L), where E is earnings and L is the number of hours of leisure. How much will the worker earn if he takes 14 hours of leisure per day?
A. $200 B. $240 C. $100 D. $150