A decrease in the price of a good would
a. increase the demand for the good.
b. increase the quantity demanded for the good.
c. decrease the demand for the good.
d. decrease the quantity supplied of the good.
B
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When calculating the price elasticity of demand, which of the following conditions must be satisfied?
A) All other factors that influence demand must be held constant. B) Prices of related goods must be held constant but all other factors must be allowed to vary. C) Prices of related goods must be allowed to vary but all other factors must be held constant. D) All other factors than influence demand must be allowed to vary.
Which of the following explanations, if true, for the observation that 80% of your company's employees choose not to opt into the company's optional retirement plan would be the LEAST consistent with standard economic theory?
A. Company-sponsored retirement plans tend to have lower-than-average returns over the long run. B. Company-sponsored retirement plans tend to have higher-than-average costs compared to other retirement saving instruments. C. When confronted with alternatives, people sometimes avoid making a choice and end up with the option that is assigned as a default. D. Across all employers, the average rate of retirement plan enrollment tends to be about 20%, which is consistent with the low demand for retirement plans.
Preferential trade agreements have a beneficial trade-diversion effect when they reduce prices for traded goods and stimulate the volume of international trade
a. True b. False Indicate whether the statement is true or false
Which of the following is true?
a. The earnings differential between men and women who never married is considerably smaller than the differential between married men and married women. b. After adjusting for education, age, language, and location, the earnings of women are almost identical with the earnings of men. c. Between 1980 and 2000 . the female/male annual earnings ratio of full-time workers was virtually unchanged. d. The hourly earnings of women were approximately 60 percent of their male counterparts in 2009.