Suppose that workers develop a greater taste for leisure, and thus require more time away from work. What is likely to happen to wages and the quantity of labor hired?
A) wages decrease, quantity of labor hired increases
B) wages increase, quantity of labor hired decreases
C) wages increase, quantity of labor hired increases
D) wages decrease, quantity of labor hired decreases
B
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Which of the following is clearly being sold below cost?
A) 2-for-the-price-of-one theatre tickets B) Senior-citizens discounts on meals at the local diner C) The free software included in the purchase of a new personal computer D) The magazine subscription offering 30% off the regular newsstand price E) None of the above.
Which of the following could shift the demand for a good to the right?
a. a decrease in income, if the good is a normal good b. an increase in the price of a complementary good c. a decrease in the good's price, if the good is normal d. an increase in the good's price, if the good is inferior e. an expectation of a future price increase
In Watermala, the marginal propensity to consume is 0.6, base consumption is $1,000 . the tax rate is 30 percent of income, national income is $5,000 . investment spending is $800, government spending is $1,500, export earning is $1,000 . and import spending is $500 . Given this information, Watermala's aggregate expenditure equals _____
a. $5,900 b. $7,800 c. $3,900 d. $10,300
The introduction of credit cards and debit cards has ________ velocity.
A. decreased B. increased C. eliminated D. had no impact on