The Adonis Tanning Salon is running a special this month of $1 a session. Lothario Goodman goes there 15 times, instead of his customary 5.
A. His consumer surplus is larger.
B. His consumer surplus is smaller.
C. His consumer surplus is the same.
D. It cannot be determined if his consumer surplus is larger, smaller, or the same.
A. His consumer surplus is larger.
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The "pay or play" approach means that
A. If the government does not pay off the deficit, deficit reduction will become the top political-economic priority. B. If businesses do not pay for training, workers have no obligation to work for them. C. If employers do not provide training activities, they must pay the government to do so. D. Businesses must go along with the administration or pay the consequences.
The goal of the business firms in a market economy is to maximize
A. Total utility. B. Total welfare. C. Total profits. D. Total sales.
The ___________ is the period of time from the trough, through recovery, and all the way back to a peak.
A. expansion B. start C. trough D. peak
Which of the following statements is true of income inequality in the U.S. economy?
A) Inequality in the U.S. economy had increased throughout the 20th century. B) Inequality in the U.S. economy had decreased throughout the 20th century. C) Inequality in the U.S. economy is now less than what it was in the year 1950. D) Inequality in the U.S. economy is now higher than what it was in the year 1950.