The pay differential between Walmart and unionized grocery stores is around
A. $5 per hour.
B. $1 per hour.
C. $ 15 per hour.
D. $8 per hour.
Answer: A
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Suppose the government establishes a price support for soybeans. The new government program will tend to
A) decrease the output of soybeans. B) increase the quantity demanded of soybeans. C) decrease the demand for soybeans. D) increase a farmer's opportunity cost of producing other commodities (such as corn), which could be grown on the same land used to grow soybeans. E) do none of the above.
Using the scenario above explain how this could have happened?
What will be an ideal response?
Assume health insurance is provided universally by the government. This would
A) force every taxpayer to bear the costs of adverse selection. B) force every taxpayer to bear the costs of moral hazard. C) force the government to deal with adverse selection problems. D) force foreign governments to deal with moral hazard problems.
For which of the following goods would demand be most price elastic: a car, a sedan, a Honda sedan, a Honda Accord, a black Honda Accord?