If the government borrowed funds are invested more in ________ , then it would improve labor productivity and the nation's future standard of living
a. farm subsidies
b. retirement benefits
c. educated workforce
d. defense
c
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It is likely that for most people:
A. coffee and non-dairy creamer are substitutes. B. coffee and tea are substitutes. C. coffee and coffee mugs are substitutes. D. coffee and Coke are complements.
Equilibrium price in international trade is the common price between exporting and importing countries
a. True b. False Indicate whether the statement is true or false
Mary is a waitress who, when tips are included, earns $15 per hour. Mary chooses to work 40 hours per week. Assume there are no taxes, so Mary earns $600 per week. A slowdown in the restaurant's business cuts Mary's hourly wage in half, to $7.50 per hour. To compensate Mary for the lost income, Mary's rich parents begin sending a gift of $300 per week.
(i) Design an indifference curve-budget line diagram illustrating this situation. (ii) Does Mary now choose to work more or fewer hours? Does Mary's consumption rise, fall, or remain unchanged? Is Mary now better off or worse off?
Based on the graph above, what is the difference between the purely competitive equilibrium level of output and the pure monopolist equilibrium level of output?
A. 20 units of output B. 90 units of output C. 5 units of output D. 70 units of output