Temporary tax cuts would cause
A) the AA-curve to shift left.
B) the AA-curve to shift right.
C) the DD-curve to shift left.
D) the DD-curve to shift right.
E) a shift in the AA-curve, although the direction is ambiguous.
D
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Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is $5 and the wage rate is $62.50 per day, how many workers should Winnie employ to maximize his profit?
A) 2 B) 3 C) 4 D) 5
Established in 1862, the Department of Agriculture's functions during the 19th and early 20th century included all of the following except
a. research and experimentation on plant and animal breeding. b. regulation of agricultural prices and output. c. distribution of information through publications and experiment stations. d. regulation of quality through inspection of meat and dairy products.
An oligopolist who sets the price for the industry is a price leader
a. True b. False Indicate whether the statement is true or false
Figure 5-9
In Figure 5-9, the consumer's marginal rate of substitution at his optimum choice of X and Y is
a.
?1.
b.
16.
c.
8.
d.
?8.