If an import quota is imposed on imports of shrimp into the United States, U.S. producers ________ and the U.S. economy will ________
A) gain; be unaffected
B) gain; lose
C) lose; gain
D) lose; lose
E) gain; gain
B
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The data in the table above give two points on the demand curve for pizza. Using the midpoint method, when the price of a pizza falls from $10 to $9, what is the percentage change in the quantity demanded?
A) 22.2 percent B) 10.0 percent C) 15.5 percent D) 5.2 percent E) 25 percent
Which of the following will result in an increase in labor productivity?
A) a decline in the capital stock per hour worked B) a decline in the amount of human capital per worker C) an increase in technology D) a decrease in the number of people attending institutions of higher education
If a firm pays its workers $10 per hour, the marginal product of labor is 5 units per hour, and the price of the firm's product is $15 per unit, what is the price elasticity of demand facing the firm?
A) -1.15 B) -2.15 C) -1.0 D) -3.56
What is the expected value of a $100 bet on a flip of a fair coin, where heads pays double and tails pays zero?
What will be an ideal response?