If an apartment owner charged ________ than a specified rent for housing, the government ________ impose a rent ceiling
A) more; can
B) more; cannot
C) less; can
D) less; cannot
E) less; might
A
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The effect of a quota is to
A) increase quantity supplied and lower price. B) increase quantity supplied and increase price. C) increase demand for the good and increase price. D) reduce quantity supplied and raise price.
Peter was recently hired as a salesman for a national consulting firm. His job involves spending a significant portion of his time out of the office visiting prospects and attending conferences. Which of the following is a strategy the consulting firm may employ to discourage Peter from shirking his responsibilities?
a. Tell Peter that the shareholders want to earn a large profit this year. b. Pay Peter commissions on what he sells after the work has been completed. c. Allow Peter to set his own schedule and work from home frequently. d. Pay Peter a lower wage than he would earn in a similar job at another firm.
The slope of the aggregate demand curve is generally believed to be
a) an increasing function of the interest rate b) an increasing function of the price level c) a decreasing function of the price level d) horizontal e) initially upward-sloping, then eventually becoming vertical
Tommy's total utility for 5 action figures would be
Table-Demand and Utility Table for action figures
A. $6.
B. $14.
C. $30.
D. $50.