If Sam decides to work, his
A) reservation wage is greater than his wage rate.
B) reservation wage is less than his wage rate.
C) value of marginal product is greater than his wage rate.
D) value of marginal product equals his wage rate.
B
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Which of the following is NOT true of a demand curve?
A. It reflects sellers' reservations prices. B. It shows the amount consumers want to buy at various prices. C. It has negative slope. D. It relates the price of an item to the quantity demanded of that item.
Refer to the above table. The price of Y decreases from $18 to $15. What is the cross price elasticity of demand between Y and X?
A) -0.73 B) -1.0 C) +1.38 D) +1.83
Because perfectly competitive markets rarely exist in the real world, the model has limited usefulness
a. True. b. False.
A country's income is:
A. difficult to measure given current macroeconomic data. B. likely to increase if the country experiences high rates of inflation. C. dependent upon how productive its workers are. D. None of these is true.