Waiters in countries where it's customary to tip waiters will tend to have lower wages than will waiters in countries where tipping is not customary.
Answer the following statement true (T) or false (F)
True
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Refer to Figure 17-6. Salespeople would be indifferent to the two pay schemes if their monthly sales were
A) less than 20 vacuum cleaners. B) between 20 and 30 vacuum cleaners. C) between 30 and 45 vacuum cleaners. D) more than 45 vacuum cleaners.
In recent years, people have benefited from greater amounts of leisure time. This trend:
a. has caused GDP to rise. b. has caused GDP to fall. c. made GDP fluctuate randomly. d. is not accounted for in GDP.
If you compared the short-run demand and long-run demand for education at your college, you would almost certainly find that
a. the long-run demand curve was steeper than the short-run demand curve. b. a tuition increase would reduce enrollment more in the long run than in the short run. c. a reduction in tuition would increase enrollment in the short run but not in the long run. d. the short-run and long-run demand curves were identical.
Suppose Congress consists of 5 people who want to spend X% on national defense. Let their preferences be as follows: 1, 3, 20, 21, 25. What amount will most likely be spent?
A. 14 B. 21 C. 20 D. 3