If an increase in income leads to an increase in the demand for sushi, then sushi is
A) a normal good.
B) a neutral good.
C) a complement.
D) a necessity.
Answer: A
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Assume that for whatever reason there is a manufacturing firm exhibits a constant marginal product of labor over a certain range of production
Armed with only this information what would you be able to say about the average product and total product of labor curves of this firm.
Refer to the information above. What is the value of net investment in period 5?
A) 17.5 B) 89.25 C) 106.75 D) 612.5
The costs involved with breaking a ban placed on a good depend on all of these except the:
A. likelihood of being punished if caught. B. punishment associated with rule breaking. C. ability of the public or individuals to pay for those costs. D. likelihood of being caught.
If countries do not engage in international trade:
A) they give up the ability to specialize in production. B) worldwide levels of production are lower. C) the world will be operating inside its production possibilities curve. D) all of the above are true.