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
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
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