Jobs in rural areas generally pay lower wages than jobs in urban areas because there are limits to labor mobility
a. True
b. False
A
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The average propensity to consume (APC) equals
A) the change in consumption expenditures divided by the change in real disposable income. B) real disposable income divided by consumption expenditures. C) the change in real disposable income divided by the change in consumption expenditures. D) consumption expenditures divided by real disposable income.
What does empirical evidence suggest about the elasticity of labor supply? What does this suggest about the burden of the payroll tax in the United States?
What will be an ideal response?
No currency ever appreciated or depreciated under the Bretton Woods system as it was based on a system of fixed exchange rates
a. True b. False Indicate whether the statement is true or false
Which of the following is a problem that arises when regulations force "natural monopolies," like electric utilities, to charge a price that is equal to their marginal cost (MC)?
a. This price will force the firms out of business in the long run. b. The firms have an incentive to pad their fixed costs. c. When price is equal to MC, new firms will enter the industry and drive up the costs of production. d. Both b and c are correct.