Figure 6.1In Figure 6.1, the total consumer expenditures equal:
A. 200
B. 250
C. 50
D. 30
Answer: A
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A student at New York University used to take the Redhound bus when she visited her grandmother in Boston
After graduating, although the bus fare and the plane fare were the same as they were when she was a student, with a well-paid job on Wall Street she now takes the plane to Boston to visit her grandmother. For this student, travel by Redhound bus is A) a normal good. B) an inferior good. C) a substitute good. D) a complement good. E) a good with negative preferences.
If the price for a good was $5 and the government wanted the price to be $10, it would impose a $5 price floor
Indicate whether the statement is true or false
The opportunity wage is often a better measure of executive pay than
A. MPP because executives do not have an MPP. B. Derived demand because the elasticity of supply for an individual is greater than 1.0. C. MRP because of the difficulty in quantifying executive output. D. Opportunity costs of executive leisure.
If employers can fire an employee for any reason, other things being equal
What will be an ideal response?