Figure 1A.1Refer to Figure 1A.1. If the hours worked per week are 30, the income per week is:
A. 50.
B. 100.
C. 150.
D. 200.
Answer: D
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A firm's employment of labor outside the country in which the firm is located
A) is outsourcing. B) shifts the supply of labor in the original country. C) is the marginal revenue product. D) shifts the supply of labor in the other country.
Which is an example of market size affecting demand?
a. Restaurant visits drop after a hurricane causes a city to be evacuated. b. A computer chip maker moves to a town and hires hundreds. c. After a team wins the World Series, it becomes a fad to buy their caps. d. Sales of potato chips drop after the price of pretzels falls by half.
Which of the following is the best example of an oligopoly?
A. area restaurants B. the automobile industry C. agricultural markets free of government support D. local utilities
States receive most of their tax revenues from
A. User charges. B. Property taxes. C. State income taxes. D. Sales taxes.