Refer to the information provided in Table 30.1 below to answer the question(s) that follow.
Table 30.1
Refer to Table 30.1. What is the real wage rate in 2015 using 2014 as the base year?
A. $7.14
B. $9.80
C. $10.00
D. $14.00
Answer: A
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For a household in a (c,c') graph, the optimal consumption bundle is
A) to the left of the endowment point. B) to the right of the endowment point. C) on the endowment point. D) dependent on other factors.
Profits earned by foreign firms or governments under a quota are called:
A. quota rents. B. quota revenue. C. trade costs. D. trade rents.
If a $50 subsidy is legally (statutorily) granted to the sellers of weed eaters and as a result the price of weed eaters to consumers falls by $30, the actual benefit of the subsidy
a. goes completely to buyers of weed eaters. b. goes completely to sellers of weed eaters. c. is $30 to buyers and $20 to sellers. d. is $20 to buyers and $30 to sellers.
Disposable personal income equals personal income
A) minus personal tax payments plus government transfer payments. B) plus government transfer payments. C) minus personal tax payments. D) minus government transfer payments plus personal tax payments.