The Employment Act of 1946:
a. guaranteed full employment
b. allowed the federal government to hire as many people as it could to achieve full employment.
c. gave the federal government the power to levy an income tax.
d. imposed a responsibility on the federal government to promote maximum employment.
e. obligated the federal government to run budget surpluses to achieve full employment.
d
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Suppose the total benefit of watching 1 baseball game is 100, the total benefit of watching 2 games is 120, and the total benefit of watching 3 games is 125. In this case, the marginal benefit of watching the 3rd game is:
A. 375 B. 5 C. 41.67 D. 125
Suppose Sarah owns a small company that makes wedding cakes. The accompanying table shows how Sarah's total cost varies depending on the number of wedding cakes she makes each day.Number of Cakes Per DayTotal Cost Per Day0$1001$1802$2203$3004$4005$5206$660 If the market for wedding cakes is perfectly competitive, and wedding cakes sell for $125 each, then Sarah should produce ________ cakes per day.
A. 0 B. 6 C. 3 D. 5
A significant increase in the price of basketballs will most likely lead to
A. an inward shift in the demand for basketball shoes. B. an increase in the demand for basketball shoes. C. an inward shift in the demand for basketballs. D. a movement along the demand curve for basketball shoes.
In the above table, the cross price elasticity of demand for good B with good A when PA rises from $10 to $12 is
A. -0.58. B. +0.58. C. +1.83. D. +0.29.