Which of the following is a microeconomic question?
A. Should the government decrease unemployment benefits to reduce the unemployment rate?
B. Why do some countries have higher inflation rates than other countries?
C. Should the government subsidize corn farmers to encourage the production of ethanol?
D. Should congress decrease taxes to help stimulate the economy?
Answer: C
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Which of the following activities increases the demand for union labor?
A) a decrease in the minimum wage B) a decrease in immigration C) an increase in the union wage D) an increased desire by consumers to buy imports
If James is willing to sell an extra concert ticket for $40 and actually sells it for $100, his consumer surplus is $60
a. True b. False Indicate whether the statement is true or false
Under perfect competition, which of the following are the same (equal) at all levels of output?
a. Price and marginal cost b. Price and marginal revenue c. All of the answers are correct. d. Marginal cost and marginal revenue
An international agreement from 1947 designed to lower tariffs was
A) the General Agreement on Tariffs and Trade. B) the World Trade Organization. C) the World Agreement on Tariffs and Trade. D) the Trade and Tariff Agreement.