Which one of the following would shift your consumption function in an upward direction?
A) an increase in your wealth
B) a decrease in your wealth
C) an increase in your real disposable income
D) a decrease in your real disposable income
A
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Use the following graph to answer the next question.
The short-run supply curve for this perfectly competitive firm is the
A. segment of the MC curve lying at and to the right of quantity k. B. entire MC curve. C. segment of the MC curve lying at and to the right of quantity h. D. segment of the AVC curve lying to the right of the MC curve.
Refer to Figure 4-1. Kendra's marginal benefit from consuming the third ice cream cone is
A) $13.00 B) $2.50 C) $1.50 D) $0.50
________ dictates the lowest wage that firms may pay for labor
A) The black-market wage B) A maximum wage requirement C) A minimum wage law D) A price-ceiling wage
A study by Price Fishback and Shawn Kantor of the University of Arizona shows that after the passage of workers' compensation laws, wages received by workers in the coal and lumber industries fell
Source: Price V. Fishback and Shawn Everett Kantor, "Did Workers Pay for the Passage of Workers' Compensation Laws?" Quarterly Journal of Economics, Vol. 100, No. 3, August 1995