A subsidy payment, even if paid entirely to the seller, will impact the price, supply of, and quantity demanded of a good
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Figure 8.5. If the actual wage in this economy is represented by w2, employment in this economy is represented by
A) L1. B) L2. C) L3. D) 0.
Among the following, which would not be considered part of the investment component of GDP?
a. manufacturers' equipment b. buying corporate stock c. new houses d. business structures
Lou and Alex live together and share household chores. They like to cook some meals ahead of time and eat leftovers. The table below shows the number of rooms they can each clean and the number of meals they can each cook in an hour. Rooms CleanedPer Hour Meals CookedPer HourLou54Alex33Which of the following is true?
A. Lou has a comparative advantage over Alex in cleaning. B. Lou has both an absolute advantage and a comparative advantage over Alex in both tasks. C. Alex has both an absolute advantage and a comparative advantage over Lou in both tasks. D. Alex has a comparative advantage over Lou in cleaning.
Damian is texting while driving and ends up slamming into the back end of the car in front of him, which then strikes the car in front of it. By texting while driving, Damian has created a
A. negative externality. B. positive externality. C. nonexcludable public good. D. marginal social benefit.