An increase in the marginal cost of an activity necessarily means that people will no longer engage in any of that activity
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose consumers save 3 percent of their incomes. If the government collects 1 dollar in taxes from each taxpayer, private saving will ________ per taxpayer
A) decrease by 97 cents B) increase by $1 C) increase by 97 cents D) decrease by 3 cents
A minimum wage that is above the equilibrium wage rate
A) increases efficiency within the labor market. B) increases the quantity of labor demanded. C) creates a deadweight loss. D) has no effect on the labor market because it is set above the equilibrium wage rate. E) None of the above answers is correct.
In 1900, the country with the highest per capita GDP was
A) Australia. B) New Zealand. C) the United States. D) Belgium. E) the Netherlands.
Juan wants to migrate from Mexico to the United States but knows he cannot do so legally at this time. If he decides to attempt to enter the United States illegally, which of the following costs will he most likely not face?
A. Payment to an expediter ("coyote") to facilitate his entry into the United States. B. A green card application fee. C. The loss of income from his current factory job. D. All of these are costs he must incur to migrate.