Suppose Sam's Shoe Co. makes one kind of shoe. An example of a variable cost for this company would be:
A. the design pattern for the shoes. .
B. the leather needed to make the shoes.
C. the lease to the factory building.
D. All of these are examples of variable costs.
B. the leather needed to make the shoes.
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Refer to Figure 4-8. Suppose that instead of a rent ceiling, the government imposed a price floor of $2,000 per month for apartments. What is the value of consumer surplus after the imposition of the price floor?
A) $6,000 B) $30,000 C) $100,000 D) $240,000
Models are used to describe cause-and-effect relationships.
Answer the following statement true (T) or false (F)
In September 2007 the British bank Northern Rock which specialized in home mortgages experienced a noteworthy bank run
a. True b. False Indicate whether the statement is true or false
Which of the following states had the highest incidence of union membership as a percent of all wage and salary workers in 2012?
a. New York, Hawaii, and Alaska b. South Carolina, North Carolina, and Mississippi c. Arkansas, North Carolina, and Texas d. California, Florida, and Georgia