The founder of the American Federation of Labor was
A) John L. Lewis.
B) Samuel Gompers.
C) Walter Reuther.
D) Ralph Nader.
B
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The minimum acceptable price for a product that producer Sam is willing to receive is $15. The price he could get for the product in the market is $18. How much is Sam's producer surplus?
A. $3 B. $33 C. $45 D. $270
Lowering the individual income tax rate will increase household disposable income and consumption spending
Indicate whether the statement is true or false
When the marginal product of labor rises
A) the marginal cost of production will exceed the average total cost. B) the marginal cost of production also rises. C) the average total cost of production also rises. D) the marginal cost of production falls.
The federal government subsidizes higher education
A. less than primary and secondary education. B. more than primary and secondary education. C. about the same as primary and secondary education. D. because it does not subsidize primary and secondary education.