Suppose a firm in each of the two markets listed below were to increase its price by 15 percent. In which pair would the firm in the first market listed experience a dramatic decline in sales, but the firm in the second market listed would not?
a. cotton and soybeans
b. gasoline and corn
c. #2 lead pencils and college textbooks
d. electricity and cable television
c
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A worker will become indifferent between spending the next hour on work or leisure if the benefit of another hour of work is:
A. greater than the opportunity cost. B. exactly equal to the opportunity cost. C. less than the opportunity cost. D. constant for each additional hour worked.
Remittances refers to:
A. money paid to immigrants from hosting countries. B. money sent home from immigrants working abroad. C. the portion of money paid to immigrants that is not domestically taxed. D. the money immigrants get from the government once they immigrate to a nation.
Affordability is a benefit of layering term life insurance policies.
Group of answer choices A. True B. False
Which of the following would be included in the calculation of GDP?
a. an antique diamond necklace b. a new toaster c. a second-hand dress d. a mint condition 1940 baseball card