Joe is shopping for a new computer. A computer can be delivered to Joe's home for $1,200. Alternatively, Joe can pick up the same computer at the warehouse for $1,000. How should Joe buy the computer?
A. Joe should drive to the warehouse because $1,000 is less than $1,200.
B. Joe should drive to the warehouse if his cost of driving to the warehouse is less than $200.
C. Joe should drive to the warehouse because the $200 he would save by driving to the warehouse is more than 10% of the purchase price.
D. Joe should drive to the warehouse if his cost of driving to the warehouse is greater than $200.
Answer: D
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Which of the following is a reason for the existence of sticky wages?
A) Cutting wages during an economic downturn is illegal. B) Some wages are set by contract. C) Increasing wages means reduced profits during economic expansions. D) By law, if one worker's wages are changed, all workers' wages must be changed.
Refer to Table 17.2. If the price of output is $2 per unit and the wage rate is $50, how many workers should be hired?
A. three workers B. four workers C. five workers D. six workers
The Heyerdahl index is a measure of:
A. Profitability in an industry B. The price level in an industry C. The costs in an industry D. Market power in an industry
A move from G to H represents
A. an increase in quantity demanded.
B. a decrease in quantity demanded.
C. an increase in demand.
D. a decrease in demand.