Because Picasso's painting Guernica is one-of-a-kind, its price is
A. supply determined.
B. demand determined.
C. independently determined.
D. inelastic.
Answer: B
Economics
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Refer to the figure above. The market price of Good Y is ________
A) $10 B) $17 C) $22 D) $20
Economics
At a taxable income of $40,000 Mari's income tax is $7,400. When her taxable income rises to $45,000 her income tax is $8,400. Based on this information, what is Mari's marginal tax rate?
A) 18.7 percent B) 39 percent C) 10 percent D) 30 percent E) 20 percent
Economics
The minimum wage is an example of
A) a subsidy for low-skilled workers. B) a price floor. C) a black market. D) a price ceiling.
Economics
"Throwing good money after bad" is also known as the _____ effect
a. anchoring b. sunk-cost c. status quo d. familiarity e. overconfidence
Economics