Refer to the given data. At what price does each shoe shine sell?
Answer the question on the basis of the following information for Manfred's Shoe Shine Parlor.
Assume Manfred hires labor, its only variable input, under purely competitive conditions. Shoe
shines are also sold competitively.
A. $1.
B. $2.
C. $3.
D. $2.50.
C. $3.
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Suppose the quantity of nursing services demanded exceeds the quantity of nursing services supplied. The nursing wage rate will:
A) decrease. B) increase. C) not change. D) none of the above
Exports as a function of national income show how exports change with the level of a country's gross national product
a. True b. False Indicate whether the statement is true or false
Explain the difference between discretionary and automatic spending by the government.
What will be an ideal response?
Typical estimates of the sacrifice ratio suggest that about 10 percent of annual output has to be given up in order to reduce the inflation rate from
a. 8 percent to 4 percent. b. 8 percent to 5 percent. c. 7 percent to 5 percent. d. 7 percent to 6 percent.