Which of the following determines the opportunity set of possible choices for leisure and income?
a. The wage rate
b. The aggregate price level
c. The unemployment rate
d. The utility from leisure
a
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High concentration measures will understate the extent of competition in a market if
A) the true geographical scope of the market is global rather than national. B) entry into the industry is easy. C) the geographical scope of the market is regional rather than national. D) Both answers A and B are correct.
The graph of a direct relationship will have a positive slope
a. True b. False Indicate whether the statement is true or false
Consider two people, Sandy Roos, who earns $25,000 . and Gary Behrman, who earns $50,000 . If the government has decided to tax everyone's first $25,000 at 20 percent and everyone's second $25,000 at 40 percent, then
a. Gary and Sandy both pay taxes of the same percentage of total income b. Gary and Sandy pay the same amount of taxes c. Gary pays twice the tax amount Sandy pays d. Gary pays three times the tax amount Sandy pays e. Sandy does not pay taxes
What is the present value of $1 that will be paid to you in 6 years if the interest rate is 10%? Work it out to the nearest tenth of a cent.
What will be an ideal response?