Which of the following events is likely to reduce the demand for on-campus student housing?
a. a rise in rents for off-campus housing
b. more students enrolling at the university
c. it becomes less fashionable to live "on campus"
d. a rise in dorm fees
e. a rise in the incomes of students
C
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Gertrude Stork's Chocolate Shoppe normally employs 4 workers. When the Chocolate Shoppe hired a 5th worker the Shoppe's total output decreased. Therefore
A) the total output of Gertrude Stork's Chocolate Shoppe is negative. B) the average product of the 5th worker is negative. C) the 5th worker should be hired only if he is willing to accept a wage lower than the wage paid to the other 4 workers. D) the marginal product of the 5th worker is negative.
One of the most significant developments in labor supply in recent times is the increase in the labor force participation of married women.
Answer the following statement true (T) or false (F)
An oligopolist does not spend money on advertising because consumers are rational in an oligopolistic market
a. True b. False Indicate whether the statement is true or false
Answer the question on the basis of the following national income data. All figures are in billions of dollars. Personal Taxes 23 Net Private Domestic Investment 33 Net Exports 6 National Income 278 US Exports 20 Gross Private Domestic Investment 56 Disposable Income 220 Taxes on Production and Imports 32 Undistributed Corporate Profits 15 Proprietor's Income 45 Net Foreign Factors Income 0 Statistical Discrepancy 0 Refer to the above data. Personal consumption expenditures:
a) cannot be calculated. b) are $231. c) are $225. d) are $205.