Use the above table. Which of the following is TRUE if real disposable income is $150?
A) APC is less than MPC.
B) APC = 0.8.
C) APS = 0.2.
D) APS is less than MPS.
D
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Why might spending on basic literacy for girls have a social return that exceeds the private return?
What will be an ideal response?
An increase in taxes
a. reduces income by more than the total fall in consumption. b. reduces income by the same amount as the total fall in consumption. c. reduces income and consumption by the same amount as taxes fall. d. reduces income by the amount of the initial fall in consumption.
Within the U.S. population, women of prime working age (ages 25-54) have similar rates of labor-force participation than men of prime working age (ages 25-54), regardless of race
a. True b. False Indicate whether the statement is true or false
A firm is unlikely to hire a worker if:
A. there are diminishing marginal returns to labor. B. the minimum wage set by law is less than the equilibrium wage in the market. C. the additional revenue generated by hiring the worker is less than his or her wage. D. the additional output a firms gets by hiring the worker is greater than his or her wage.