After the U.S. government deregulated the trucking industry:
A. profits rose.
B. freight prices rose.
C. freight prices fell.
D. the number of trucking companies decreased.
Answer: C
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In the table above, country A is producing 4 units of X and 8 units of Y and country B is producing 4 units of X and 6 units of Y. The opportunity cost of producing more of
A) good X is the same for both countries. B) good Y is the same for both countries. C) good X is lower in country A. D) good Y is lower in country A.
State colleges are an example of
A) income maintenance programs. B) Social Security. C) welfare programs. D) subsidized services.
Susan is a plant manager in charge of a factory in a relatively poor country. Even though market wages are low, she decides to raise the wages of her workers. Her decision
a. might increase profits if it means that the wage is high enough for her workers to eat a nutritious diet that makes them more productive. b. will help eliminate the excess supply of labor. c. may cause her workers to reduce the effort they expend at their jobs. d. All of the above are correct.
Which of the following would be classified as a personal consumption expenditure?
A. Your purchase of this economics course. B. Your purchase of a newly constructed house C. Your purchase of a preowned house. D. Your purchase of one share of Microsoft stock.