As more efficient capital equipment becomes available, the demand for labor will ________, the real wage will ________, and the quantity of labor hired will ________
A) increase; increase; increase B) increase; decrease; remain the same
C) increase; remain the same; decrease D) increase; remain the same; increase
A
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According to one study, the price elasticity of demand for cigarettes is 0.25. To decrease the consumption of cigarettes by 8 percent, a tax on cigarettes must raise the price of cigarettes by
A) 32 percent. B) 25 percent. C) 2 percent. D) 3.1 percent.
The table above gives Cathy's total utility from Mt. Dew. Cathy's marginal utility from the 4th Mt. Dew is ________ units
A) 75 B) 90 C) 15 D) 82.5
It costs View Your World, a high-end window manufacturer, $30 for each order of windows they place. View Your World sells 3,000 windows a year and each window that is held in inventory costs $200 per year. What is the economic order quantity?
A) 38 B) 10 C) 22 D) 30
Which of the following policies would be most effective in the steep part of the SRAS demand curve?
a. The interest rate increases by 5 percent. b. The interest rate increases by 12 percent. c. The interest rate decreases by 5 percent. d. The interest rate decreases by 12 percent.