A lighthouse that serves a dangerous coastal area is built. The lighthouse cost $1 million to build and serves 100 ships a month. If the shipping in the area increases so that 200 ships pass by a month, the increase in additional costs of providing the
light to these new ships is
A) $1 million.
B) $100,000.
C) $5,000.
D) $0.
Answer: D
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A movement along the consumption function is caused by a change in:
a. consumption. b. expectations. c. aggregate supply. d. disposable income.
The Bureau of Labor Statistics computes unemployment rates for the entire adult population and for groups based on age, gender, and race
a. True b. False Indicate whether the statement is true or false
This farmer's shutdown point is at a price of
A. $0.
B. $4.
C. $7.
D. $10.
YearAntonio's Hourly wageConsumer Price Index2006$8.40201.62010$9.05218.1 Refer to Table 8.2. From 2006 to 2010, Antonio received a total of $0.65 in pay raises, and the CPI also increased as shown in the table. What was Antonio's real wage in 2006, if 2006 is used as the base year?
A. $9.05 B. $9.09 C. $8.40 D. $8.37