The slope of the saving function is the
A. APS.
B. MPS.
C. MPC.
D. APC.
Answer: B
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Many Americans have been hurt by recent economic events. Raising the minimum wage is the best policy to improve the wages and employment opportunities of Americans. This argument is
a. correct because a higher minimum wage will increase total income which will stimulate aggregate demand and employment. b. incorrect because while some people will receive higher wages, others will experience less employment and fewer training opportunities. c. correct because most minimum wage workers are household heads trying to earn enough to support their family. d. incorrect because the government has too big a deficit to pay for the increase in the minimum wage.
The abundance of goods and services we have today is largely because our factories, offices, and homes have been transformed by ______________ .
Fill in the blank(s) with the appropriate word.
What is cost-plus pricing? Why do some firms use cost-plus pricing even when the firms' managers have the resources to devise a pricing strategy that would result in greater profits?
What will be an ideal response?
Refer to the figure below. Suppose MC1 is the marginal cost of information and MB1 is the marginal benefit of information. Should a rational consumer pay $6 to get a 5th unit of information?
A. No, because at this price, the marginal cost of the 5th unit exceeds its marginal benefit. B. Yes, because at this price, the marginal benefit of the 5th unit equals its marginal cost. C. No, because at this price the marginal benefit of the 5th unit exceeds its marginal cost. D. Yes, because at this price, the marginal benefit of the 5th unit exceeds its marginal cost.