When women ask their employers for a raise, they ask for 30 percent less than do men.
Answer the following statement(s) true (T) or false (F)
Ans: True
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Use the following table to answer the question below. Jake's Production Possibilities ScheduleJane's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600801012020602080404030406020400800Without trade Jake consumes 20 pounds of green beans and 80 pounds of corn, and Jane consumes 40 pounds of green beans and 40 pounds of corn. If the terms of trade are 1 pound of green beans for 3 pounds of corn, and Jake sells Jane 72 pounds of corn, then the gains from trade for Jane are ________ pounds of green beans and ________ pounds of corn with trade and specialization.
A. 32, 16 B. 8, 4 C. 16, 32 D. 4, 8
The aggregate supply curve (short run) is upward-sloping because ________.
A. wages and other resource prices are flexible upward but inflexible downward B. the price level is flexible upward but inflexible downward C. wages and other resource prices match changes in the price level D. per-unit production costs rise as the economy moves toward and beyond its full-employment real output
Refer to the table below. What is the profit-maximizing quantity for Just Juice to produce at Plant 1?
Just Juice produces whole fruit juice that it sells in single bottles. Just Juice is a multi-plant firm with market power. The above table summarizes the total marginal cost of production at various output levels in Just Juice's two plants with the corresponding marginal revenue (dollars per bottle) and market demand (price per bottle).
A) 350
B) 530
C) 500
D) 425
If the social benefit is greater than the private benefit in a particular market, then the private equilibrium will be at a quantity:
A. greater than the socially optimal level. B. equal to the socially optimal level. C. less than the socially optimal level. D. greater than or less than the socially optimum level, depending on the size of the external costs.