Suppose a friend gives you two pieces of gum, and you decide to have one piece now and save the other for tomorrow. You do this because:
a. the total utility you get from the two pieces of gum will be higher tomorrow.
b. the marginal utility you get from the second piece will be higher tomorrow.
c. the marginal utility you get from the second piece will be higher today.
d. the marginal utility you get from the first piece will be less today.
e. the total utility you get from the two pieces will be less tomorrow.
b
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The above figure shows the market for rice in Japan. SDomestic represents the domestic supply curve, and Sworld represents the world supply curve. If a $1 per unit tariff is imposed on imported rice, the quantity of imported rice will decrease by
A) 15 units. B) 25 units. C) 35 units. D) 50 units.
In 2006, the European Union imposed antidumping duties of 10% to 16.5% on products imported from China. What were those products?
a. wooden pencils b. shirts c. shoes d. coated paper
The value of unpaid childcare services provided by a stay-at-home dad ________ included in GDP; the value of daycare services purchased from a licensed childcare provider ________ included in GDP.
A. is not; is not B. is; is C. is not; is D. is; is not
The business owner will try to maximize
A. profit per unit of output. B. total profit. C. total revenue. D. output.