An income tax distorts the choice between work and leisure.
Answer the following statement true (T) or false (F)
True
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A monopolist faces the market demand curve
a. True b. False Indicate whether the statement is true or false
According to the interest parity condition, if the domestic interest rate is 10 percent and the foreign interest rate is 12 percent, then the expected ________ of the foreign currency must be ________ percent
A) appreciation; 4 B) appreciation; 2 C) depreciation; 2 D) depreciation; 4
Assume there are only two goods in the economy, apples and bananas. In 2018, 1,400 apples were sold at $1 each and 8,500 bananas at $0.60 each. In 2019, the price of apples rose to $2 and the quantity rose to 2,400; the price of bananas rose to $0.80 and the quantity sold rose to 9,000.
What will be an ideal response?
One characteristic that has allowed the U.S. economy to change the mix of output in response to consumer demand is the
A. Factor mobility which is the increased ease with which resources move from one industry to another. B. Labor-intensive production process. C. Abundance of scarce resources. D. Large number of proprietorships.