Justin is trying to decide whether he wants to spend a $50 birthday check on a new DVD player or tickets to a concert. If he chooses the DVD player, what is the opportunity cost of this decision?
A. Birthday check
B. DVD player
C. Concert tickets
D. $50
C. Concert tickets
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Explain how labor unions may create structural unemployment
What will be an ideal response?
The "independence of irrelevant alternatives" criterion is also known as the:
A. third-party problem. B. swing-vote problem. C. majority options problem. D. misalignment problem.
If Happy Cleaners and Sparkle Cleaners are in a Cournot oligopoly and Happy Cleaners has a higher cost of production than Sparkle? Cleaners, in? equilibrium, Happy Cleaners will produce? ________ than Sparkle Cleaners and earn an economic profit that is? ________ Sparkle Cleaners.
A) more; less than
B) less; less than
C) less; the same as
D) more; the same as
The wage rate that is adjusted for changes in ________ over time is the real wage rate.
A. tax rates B. the price level C. the average number of hours worked per week D. worker productivity