What is a company's total revenue?
What will be an ideal response?
Answer: the amount a company receives for selling its goods
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Generally, the gender pay gap increases as the level of educational attainment
a. increases b. decreases c. neither of the above because it depends on how hard a person works d. neither a nor b because such data are not available
In the 1980s, the U.S. government forced Japanese automakers to limit their exports to the United States. The union representing the autoworkers (UAW), argued that otherwise the U.S. auto industry would have contracted
The UAW's argument is the ________ argument for protection. A) save domestic jobs B) national security C) anti-dumping D) infant-industry E) bringing diversity and stability
Which of the following will NOT lead to a decrease in demand for a normal good?
A) an increase in income B) an increase in the price of an input C) a decrease in the price of a complement good D) an increase in the number of consumers
The free-market system coordinates output decisions by pushing
A. up price when there is a shortage. B. down price when quantity demanded exceeds quantity supplied. C. up price when there is a surplus. D. up price when quantity supplied exceeds quantity demanded.