The graph shows the market for cell phones. The government imposes a sales tax on cell phones at $10 a cell phone. The excess burden of the sales tax on cell phones is
A) $20,000.
B) $15,000.
C) $35,000.
D) $7,500.
E) $30,000.
B
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Which of the following was true of the U.S. job market between 1929 and 2011? a. The number of jobs created in the organized sector was less than that in the unorganized sector. b. The number employed people increased by less than five percent
c. The average education of workers increased over the years. d. The productivity of workers declined over the years. e. The growth in employment opportunities was slower compared to the growth in population.
Where monopsony exists, ____ workers will be hired at ____ wages than if perfect competition prevailed in a labor market
a. fewer; lower b. fewer; higher c. more; lower d. more: higher
Which of the following is a characteristic of an oligopolistic industry?
a. interdependence of a firm's price and output decisions b. low barriers to entry c. small output of individual firms relative to the total market d. a large number of competing firms
The investment rate is the percentage of total output allocated to
A. The production of new plants, equipment, and structures. B. Education and training for the workforce. C. Consumer retirement accounts. D. Saving.