Economists might be willing to accept a policy that adversely affected distribution of income if it
A. lessened income disparities.
B. diminished labor productivity by a large amount.
C. increased productivity by a large amount.
D. were favorable to the rich.
Answer: C
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Use the following figure to answer the question below.
A point on the production possibilities frontier in the figure above is
A. not attainable. B. inefficient. C. local. D. efficient.
Under a fixed exchange rate system, if the inflation rate of the United States exceeds the inflation rate of other nations, the
A) dollar will depreciate. B) dollar will appreciate. C) United States will develop a trade surplus. D) United States will develop a trade deficit.
Ziva is an organic lettuce farmer, but she also spends part of her day as a professional organizing consultant. As a consultant, Ziva helps people organize their houses. Due to the popularity of her home-organization services, Farmer Ziva has more clients requesting her services than she has time to help if she maintains her farming business. Farmer Ziva charges $25 an hour for her
home-organization services. One spring day, Ziva spends 10 hours in her fields planting $130 worth of seeds on her farm. She expects that the seeds she planted will yield $300 worth of lettuce. Ziva's economic profit from farming equals a. $-130. b. $-80. c. $130. d. $170.
Refer to the table shown. The maximum profit that the perfectly competitive firm represented by the above data could earn is:QuantityTotal CostTotal Revenue10$255020601003010515040160200
A. $55. B. $45. C. $35. D. $25.