Junkfood Jill spends all of her income on jellybeans and Jolt cola. Suppose that Jill's income is $30, the price of a bag of jellybeans is $6, and the price of a bottle of Jolt cola is $2
Which of the following combinations of jellybeans and Jolt cola lies inside of Jill's budget line? A) 5 bags of jellybeans and 0 bottles of Jolt
B) 4 bags of jellybeans and 4 bottles of Jolt
C) 3 bags of jellybeans and 6 bottles of Jolt
D) 2 bags of jellybeans and 8 bottles of Jolt
D
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The women's labor force participation rate is
A) higher in Japan than in the United States. B) higher in the United States than in France. C) higher in Italy than in the United States. D) higher in Spain than in Iceland. E) higher in the United States than in Iceland or Norway.
Refer to Figure 4-16. Suppose the market is initially in equilibrium at price P1 and now the government imposes a tax on every unit sold. Which of the following statements best describes the impact of the tax? For demand curve D1
A) the producer's share of the tax burden is the same whether the supply curve is S1 or S2. B) the producer bears a greater share of the tax burden if the supply curve is S2. C) the producer bears a greater share of the tax burden if the supply curve is S1. D) the producer bears the entire burden of the tax if the supply curve is S1 and the consumer bears the entire burden of the tax if the supply curve is S2.
If the electronics market is experiencing a shortage in the supply of mobile phones being sold at a cost that buyers are more than willing to pay for, then: a. the selling price is higher than the equilibrium price
b. the equilibrium price is higher than the selling price. c. the quantity demanded is less than the quantity supplied. d. the shortage could be eliminated by lowering the price.
The concentration ratio of a monopoly industry is 100 percent
Indicate whether the statement is true or false