Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.
Figure 6.2Refer to Figure 6.2. Assume Mr. Lingle?s budget constraint is AC. He will have leftover income if he purchases the bundle represented by point
A. A.
B. B.
C. E.
D. D.
Answer: C
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The table below shows the weekly demand for hamburgers in a market where there are just three buyers.PriceQuantity Demanded by Buyer 1Quantity Demanded by Buyer 2Quantity Demanded by Buyer 3$6746597841510123211516Refer to the table. If there were 200 buyers in the market, each with a demand schedule identical to Buyer 2, then the weekly quantity of hamburgers demanded in the market at a price of $4 would be
A. 800. B. 2,000. C. 37,000. D. 3,000.
In 2012, part-time workers for noneconomic reasons were about ________ of total employment, and part-time workers for economic reasons were about ________ of total employment
A) 3 percent; 25 percent B) 17 percent; 17 percent C) 2 percent; 12 percent D) 13 percent; 20 percent E) 13 percent; 6 percent
If the substitution effect from a higher wage rate exceeds the income effect, then a higher wage rate
A) increases the quantity of labor supplied. B) decreases the quantity of labor supplied. C) shifts the supply of labor curve leftward. D) shifts the supply of labor curve rightward.
If government spending is held constant and Ricardian equivalence holds,
A) an increase in the government budget deficit is always matched by a reduction in private savings. B) an increase in government savings is always matched by an increase in the government budget deficit. C) an increase in government savings is always matched by an equal increase in private savings. D) an increase in government savings is always matched by an equal reduction in private savings.