Refer to the information provided in Figure 30.2 below to answer the question(s) that follow.
Figure 30.2Refer to Figure 30.2. Labor productivity at time t2 is
A. larger than labor productivity at time t1.
B. larger than labor productivity at time t1, but less than labor productivity at time t3.
C. less than labor productivity at time t3.
D. less than labor productivity at time t4.
Answer: A
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The table below shows the relationship between the number of times you get your car washed each month and your total monthly benefit from car washes. Each car wash costs $15.Number ofCar WashesPer MonthTotal MonthlyBenefit fromCar Washes0$01$202$363$484$565$60How many times a month should you get your car washed?
A. 4 B. 3 C. 2 D. 1
Costs that tend to deter firms from changing their prices in response to changes in the market equilibrium price are referred to as
A) large menu costs. B) small menu costs. C) real menu costs. D) burden costs.
The cross price elasticity between X and Y is 1.2. We can conclude that
A) goods X and Y are substitutes. B) goods X and Y are complements. C) goods X and Y are unrelated. D) perfect substitutes
Cap-and-trade programs limit pollution by selling firms a fixed amount of permits to pollute.
Answer the following statement true (T) or false (F)