A consumer values a house at $525,000 and a producer values the same house at $485,000 . If the transaction is completed at $510,000 . what amount of tax will result in unconsummated transaction?
a. A tax of $9,000
b. A tax of $14,000
c. A tax of $15,000
d. A tax of $18,000
d
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For a particular production function, over the range of output where marginal product rises as units of the variable input are added to the fixed input, marginal cost will be:
A) increasing. B) constant. C) decreasing. D) cannot be determined without additional information.
The environmental problems of China:
a. were caused by a lack of central planning in the economy. b. were caused by the burning of low-quality, high-sulfur coal. c. were caused by a lack of pollution controls. d. All of the above are correct.
Occupational crowding refers to
A. firms receiving more applications for high-wage job openings than for low-wage job openings. B. employee-based discrimination. C. licensure requirements to enter certain occupations. D. women being intentionally segregated into particular occupations. E. low turnover associated with high-wage occupations.
The aggregate demand curve will shift to the left if
A. the nation's exports decrease. B. a reduction in the price level pushes down borrowing costs. C. people are more optimistic about their future. D. government expenditures increase.