Refer to Scenario 10.9. At the profit maximizing level of output, what is the deadweight loss? A) 0 B) 450 C) 900 D) 1,800 E) none of the above ANSWER C
Date: September 9th, 2020
The “trickle down” theory is based on the notion of multiplier effects. Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
Joe’s Imports is currently the only dealer for imported Sporto autos on the East Coast, but Fred’s Autos may enter the import market and start selling Sporto cars in the East Coast market during the coming year. Joe’s Imports can pay the Sporto manufacturer for exclusive East Coast marketing rights, which would deter the entry […]
Date: September 9th, 2020
Under “trickle down”, additional economic activity will benefit the poor. Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
In Griggs v. Duke Power Company, the Supreme Court allowed intelligence tests by employers to screen potential workers. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
Suppose new oil reserves are discovered that were not previously known. What happens to the user cost of oil? A) Decreases B) Increases C) Remains the same D) May increase or decrease, depending on the discount rate ANSWER A
Date: September 9th, 2020
Hiring a white worker may be statistically safer for the employer than hiring a minority. Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
To understand why wages are so low and the process by which wages are determined, we must focus on the supply side of the labor market. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
You are the owner of a rare bottle of wine valued at $332. There are no costs associated with storing or selling the wine. Next year you expect the wine to increase in value to $350. If the interest rate is 10 percent A) you should sell the wine today. B) you should keep the […]
Date: September 9th, 2020
Refer to Scenario 10.8. Suppose that the regulatory agency sets your price where average revenue equals average cost. How much profit will Adriana make? A) She will lose money and will go out of business. B) She will break even. C) She will make a profit. D) none of the above ANSWER B
Date: September 9th, 2020
