Compensating differentials for employees can be seen as one measure of adjusting for:
A. corporate tax evasion.
B. surplus labor in the unorganized sector.
C. high rates of inflation.
D. problems of ethical conflict.
Answer: D
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There are several reasons why the aggregate demand curve is downward sloping. Which of the following CORRECTLY describes one of these explanations?
A) A rise in the price level raises the purchasing power wealth and increases desired consumption. B) A rise in the price level raises interest rates and increases investment spending. C) A fall in the price level, holding foreign prices and the exchange rate constant, increases net exports. D) A rise in the price level lowers the interest rate and increases investment spending.
An increase in the demand for green tea raises the price of green tea from $16 a pound to $20 a pound. As a result, quantity supplied increases by 30 percent. Using the midpoint formula, what is the value of the price elasticity of supply?
A) 1.35 B) 1.875 C) 2.22 D) 7.5