Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is $5 and the wage rate is $62.50 per day, how many workers should Winnie employ to maximize his profit?
A) 2
B) 3
C) 4
D) 5
B
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Government often finds it difficult to cope with externalities because
a. costs and benefits are difficult to assess in monetary terms. b. taxes and subsidies are ineffective in equating MSC and MSB. c. government has no authority to impose fines for air and water pollution. d. marginal private cost curves cannot be shifted.
The Bureau of Labor Statistics defines marginally attached workers as persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past
a. True b. False Indicate whether the statement is true or false
If the marginal propensity to consume (MPC) is 0.75 and if policy makers wish to increase real GDP by $300 million to fight a recession, then by how much would taxes have to change?
A. -$30 million B. -$50 million C. -100 million D. -300 million
A(n) ________ in a country's money supply causes international capital
A. contraction; stock to stabilize. B. expansion; outflows. C. contraction; outflows. D. expansion; inflows.