Consider the demand functions:
A) Qd = 250 - 2P B) Qd = 300 - 3P. Which of the demand functions reflects a higher level of consumer incomes?
A) A
B) B
C) A and B reflect the same consumer incomes.
D) More information is needed.
D
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According to this Application, the more unhappy unemployed individuals were
A) the more likely they were to remain unemployed. B) the longer they collected unemployment benefits. C) the more they congregated around others who were unemployed. D) the more aggressive they would be to try to find a job.
If the government places a new tax on the hiring of workers, then we would expect
a. both the short run and long run Phillips curve to shift to the right. b. both the short run and long run Phillips curve to shift to the left. c. the long run Phillips curve remains unchanged while the short run Phillips curve shifts to the right. d. the short run Phillips curve remains unchanged while the long run Phillips curve shifts to the right. e. none of the above.
If two perfectly competitive firms produce the same quantity at the market price, then, at that quantity, they must have the same
a. marginal cost and average total cost b. marginal cost and average fixed cost c. average total cost and average fixed cost d. average fixed cost and average variable cost e. marginal cost
According to the U.S. population surveys conducted by the census, since 1980 the total foreign-born population as a percentage of the total U.S. population:
a. has not changed. b. has declined. c. has risen. d. has been stable. e. has fallen to zero.