In Figure 2.1, a "q/t" for quantity per unit time price would go in
A. Box 1.
B. Box 4.
C. Box 6.
D. Box 2.
Answer: C
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In recent years, information technology such as computers and scanners have been a ________ for low-skilled labor and have led to ________ wage rates for low-skilled workers
A) substitute; higher B) substitute; lower C) complement; higher D) complement; lower
Why didn't the FDIC allow Continental Illinois Bank to fail? a. The FDIC had enough money to cover all of Continental's deposits. b. Continental had once saved the FDIC. c. The FDIC knew it could sell Continental to another bank at a profit. d. The FDIC thought that allowing Continental to fail would undermine confidence in the banking system
e. The FDIC thought that it would not be very expensive to make Continental solvent again.
Suppose the government used the following formula to compute a family's tax liability: Taxes owed = 28% of income - $8,000 . How much would a family that earned $75,000 owe?
An increase in price causes exit from a constant-cost industry.
Answer the following statement true (T) or false (F)