Let supply be given by Q = -7.5 + 0.5P and demand by Q = 10 - 0.2P. What will be the equilibrium price in this market?
A. 10
B. 20
C. 25
D. 5
Answer: C
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Many primary products from developing countries are hurt by
a. regional trade agreements b. tariff escalation c. effective protection d. Part IV of the GATT e. all of the above
MFP growth represented by a will be higher than the growth of labor productivity if
A) k > n. B) k < n. C) k = n. D) None of the above. The relative size of k and n do not affect MFP growth.
Which of the following commodities have a high short-run own-price elasticity of supply?
a. Livestock b. Petroleum c. Food crops d. Diamonds
The Equal Pay Act of 1963 says which of the following?
a. people working the same job at the same company must be paid the same amount b. people working the same job in the same industry must be paid the same amount c. people working in a company with the same education level must be paid the same amount d. people working in an industry with the same education level must be paid the same amount