An increase in unearned income always creates a disincentive to work
Indicate whether the statement is true or false
False. The effect on labor supply will also depend on the individual's preferences towards work (leisure).
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Suppose that Oscar sells pork in a perfectly competitive market. The market price of pork is $3 per pound. The marginal revenue generated by Oscar from selling the 12th pound of pork would be
A. $4. B. $3. C. $36. D. Not enough information is given to answer this question.
All of the following are tools of fiscal policy except one. Which is the exception?
a. Taxes b. Transfer payments c. Interest rates d. Government purchases of goods e. Government purchases of services
Which of the following generates demand for foreign currencies?
A. Exports from the United States to foreign countries. B. Transfers of money from foreigners to relatives in the United States. C. The purchase by foreigners of bonds issued by the U.S. government. D. Expenditures by Americans traveling abroad.
Which type of market structure contains a single buyer?
a. Monopoly. b. Monopsony. c. Oligopoly. d. Oligopsony.