A(n) _____ shows combinations of goods that provide an equal level of utility or satisfaction
a. indifference curve
b. iso-cost curve
c. marginal product curve
d. marginal cost curve
a
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If freezing weather in Florida destroys a large portion of the current orange crop,
A) prices of Florida oranges will rise and quantity demanded will fall. B) the supply of and the demand for Florida oranges will both fall. C) the demand for Florida oranges will fall and prices will rise. D) the supply of Florida oranges will decline but not the quantity demanded.
Who among the following is neither employed nor unemployed?
a. Veronica, who is currently jobless because of the recession but is available for work b. Lily, who is a journalism student working as a news reporter c. Steve, who is a civil engineer working at a construction company d. Kate, who is currently jobless gets unemployment benefits and so is not very eager to look for job
Suppose the mean earnings of two groups differ. Which of the following would be the logical conclusion?
a. The group with the lowest earnings must be the victim of employment discrimination. b. The group with the lowest earnings must be less productive. c. The group with the highest earnings is more highly motivated and materialistic. d. Without consideration of preferences and productivity factors, differences in unadjusted mean earnings do not necessarily reflect employment discrimination.
What is the percentage of income received by the upper quintile on line Z?
