Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 100 and that it is 150 in country B.) What part of domestic output in country B is the total wage bill before and after the immigration?
A. $1,700M before and $2,250M after
B. $2,250M before and $1,700M after
C. $1,500M before and $2,250M after
D. $1,700M before and $1,500M after
B. $2,250M before and $1,700M after
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A point on the production possibilities frontier reflects an
A) attainable point with full employment of all resources. B) attainable point without full employment of all resources. C) unattainable point with full employment of all resources. D) unattainable point without full employment of all resources. E) None of the above answers is correct.
In the long-run, a monopolist charges the same price as a perfectly competitive firm.
Answer the following statement true (T) or false (F)
Suppose there are three power-generating plants, each of which has access to 5 different production processes. The table below summarizes the cost of each production process and the corresponding number of tons of smoke emitted each.ProcessABCDE(smoke/day)(4 tons/day)(3 tons/day)(2 tons/day)(1 tons/day)(0 tons/day)Cost to Firm X ($/day)$500$514$530$555$585Cost to Firm Y ($/day)$400$420$445$480$520Cost to Firm Z ($/day)$300$325$360$400$550 It would cost Firm X ________ to reduce emissions by one ton if it currently emits 3 tons, and ________ to reduce emissions by one ton if it currently emits 2 tons.
A. $14; $16 B. $30; $55 C. $16; $25 D. $14; $25
The slope of a graph of the consumption function equals the marginal propensity to consume.
Answer the following statement true (T) or false (F)