A decrease in the quantity of resources
What will be an ideal response?
shifts the PPF leftward.
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Assume that the hourly price for the services of tarot card readers has risen and sales of these services have also risen. One can conclude that
A) the demand for tarot card readers has increased. B) the law of demand has been violated. C) the number of tarot card readers has increased. D) tarot card readers are deliberately charging high prices because they provide services for superstitious clients.
Basic supply and demand analysis indicates that having firms rather than the government provide health insurance to workers
A) changes neither the composition of the compensation that firms pay nor its level. B) changes both the composition of the compensation that firms pay and its level. C) changes the composition of the compensation that firms pay, but does not change its level. D) does not change the composition of the compensation that firms pay, but does change its level.
A call option has a strike price of $48. If the underlying stock is selling for $45 on the expiration date, the intrinsic value of the call option is __________ per share
A) $93 B) $45 C) $3 D) $0
A family that earns $20,000 a year pays $400 a year in taxes on clothing. A family that earns $40,000 a year pays $200 a year in taxes on clothing. The tax on clothing is
A. a progressive tax. B. a regressive tax. C. a proportional tax. D. a benefits-received tax.