A demand schedule is a:
A. table which shows the quantities of a particular good or service that consumers are willing to purchase at various prices.
B. graph which shows the quantities of a particular good or service that consumers are willing to purchase at various prices.
C. table which shows the quantities of a particular good or service that consumers are willing to purchase at various income levels.
D. line which shows the quantities of a particular good or service that consumers are willing to purchase at various prices.
A. table which shows the quantities of a particular good or service that consumers are willing to purchase at various prices.
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The wage gap between high school and college graduates can be explained, other things the same, by ________
A) a greater increase in the demand for high school educated labor than college-educated labor B) a greater increase in the supply of college-educated labor than high school educated labor C) a greater increase in the demand for high school educated labor than in the supply of high school educated labor D) a greater increase in the demand for college-educated labor than high school educated labor
According to the text, success requires:
A) there is no secret formula that guarantees success. B) a visionary leader. C) a focus on quality. D) a customer-orientation. E) an emphasis on efficiency.
At a perfectly competitive firm's short-run equilibrium level of output,
a. P = MR = MC. b. P = MR, but MR does not equal MC. c. P = MC, but MR does not equal MC. d. MR = MC and P < MR.
In 2011 the federal government spent 345.8 billion dollars on income security.
A. True B. False C. Uncertain