As the price of a good rises, the consumer will experience
A) a desire to consume a different bundle.
B) a decrease in utility.
C) a downward or leftward movement on the indifference map.
D) All of the above.
D
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Compared to a competitive labor market, workers participating in an inclusive union will enjoy
A. higher wages and fewer workers employed. B. lower pay and more workers employed. C. higher wages and more workers employed. D. similar outcomes with respect to pay and employment.
Using the bathtub analogy to understand what determines the number of unemployed workers, the stock variables are
A) the number of workers finding jobs and the number of workers separating from their jobs. B) the number of workers separating from their jobs and the number of unemployed workers. C) the number of unemployed workers and the number of workers finding jobs. D) the number of workers finding jobs, the number of workers separating from their jobs, and the number of unemployed workers.
Fiscal restraint is
A. Tax cuts or spending increases meant to reduce aggregate demand. B. Changes in taxes and spending intended to increase aggregate supply. C. Tax hikes and/or spending cuts intended to reduce aggregate demand. D. Not possible because Congress continues to spend too much money.
If the first copy cost of a music video is $223,000 and the marginal cost is $0, then how many copies should the firm sell in order to break even if the price was $10 each?
A. zero B. 2,230 C. 22,300 D. 223,000