The idea of a "New Economy" driven by hi-tech equipment such as computers, cell phones, and the World Wide Web was rooted in part in the apparent simultaneous reversal of which of the following economic problems?
A) inflation
B) slow growth in productivity
C) the budget deficit
D) All of the above
D
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The table above shows the total utility from the two goods Freddy likes to consume. Suppose that Freddy has already eaten 5 bags of Fritos. If he consumes one more bag, his marginal utility will
A) equal 40. B) equal 35. C) equal 15. D) depend on the price of the extra bag.
In the short run, changes in output can only be brought about by a change in the quantity of variable inputs
Indicate whether the statement is true or false
The demand for chicken wings is more elastic than the demand for razor blades. Suppose the government levies an equivalent tax on chicken wings and razor blades. The deadweight loss would be larger in the market for
a. chicken wings than in the market for razor blades because the quantity of chicken wings would fall by more than the quantity of razor blades. b. chicken wings than in the market for razor blades because the quantity of razor blades would fall by more than the quantity of chicken wings. c. razor blades than in the market for chicken wings because the quantity of chicken wings would fall by more than the quantity of razor blades. d. razor blades than in the market for chicken wings because the quantity of razor blades would fall by more than the quantity of chicken wings.
The __________ Act protects employee rights and the __________ Act protects employer rights.
Fill in the blank(s) with the appropriate word(s).