Doug is currently not employed. He places a value of $16 an hour on his time in nonmarket activities. If Doug is offered a job paying $12 an hour
A. he should supply a positive number of hours in the labor market and to nonmarket activities.
B. he is indifferent between supplying hours to the labor market and using his time in nonmarket activities.
C. he should supply 0 hours in the labor market.
D. he should supply a positive number of hours in the labor market and allocate no time to nonmarket activities.
Answer: C
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Using the information in the table above, what does the slope of the line between x and y equal?
A) 5 B) -0.5 C) 2 D) -2
If the United States has a $300 billion trade deficit, then there must be:
A. no capital inflows or capital outflows. B. net capital outflows of $300 billion. C. net capital inflows of $300 billion. D. net capital inflows of -$300 billion.
The successor organization to GATT, created in 1995, is the
A) WTO. B) EU. C) NAFTA. D) FDIC.
The legislation which made it illegal to engage in practices that resulted in the restraint of trade was the:
A. Sherman Act. B. Clayton Act. C. Robinson-Patman Act. D. Celler-Kefauver Act.