To increase income by $120 when the slope of the curve showing the relationship between your income and work hours is 8, how many extra hours will you need to work?
A. 8
B. 15
C. 112
D. 960
Answer: B
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Results of the study done by Lee Benham on advertising for eyeglasses would suggest that
a. brand loyalty and market power in the eyeglass market was likely to be more pervasive in states that allowed advertising. b. eyeglass sales were more profitable in states that allowed advertising. c. optometrists would not be supportive of advertising restrictions. d. optometrists would enthusiastically endorse advertising restrictions.
For the law of diminishing returns to be present, we must have:
A. at least one factor of production to be fixed. B. output decreasing as more laborers are hired. C. the price of labor increasing as more workers are hired. D. simultaneous changes in labor and capital.
Which of the following is a correct sequence of events during a recession?
A. Unemployment rises, income falls, tax revenue falls, unemployment benefits rise, and the budget deficit rises. B. Unemployment rises, income falls, tax revenue rises, unemployment benefits fall, and the budget deficit falls. C. Unemployment rises, income rises, tax revenue rises, unemployment benefits rise, and the budget deficit rises. D. Unemployment falls, income falls, tax revenue falls, unemployment benefits rise, and the budget deficit rises.
If you were going to spend time in Great Britain, you would be paying for goods and services with
A. pounds. B. dollars. C. euros. D. gold.