Which one of the following will shift the consumption function downward?
a. An increase in disposable income.
b. A decrease in disposable income.
c. Legislation making credit harder to obtain.
d. Lower tax rates.
e. A technological breakthrough.
c
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The table above gives the labor market for a small foreign economy. A(n) ________ would create ________
A) minimum wage of $9.00; a decrease in job search. B) minimum wage of $5.00; an increase in job rationing. C) efficiency wage of $9.00; an increase in job rationing. D) efficiency wage of $8.00; unemployment and job rationing. E) union-negotiated wage of $7.50; unemployment and job rationing.
Refer to Figure 7-12 An increase in price from $20 to $30 would
Refer to . An increase in price from $20 to $30 would
a.
increase total revenue by $2,000.
b.
decrease total revenue by $2,000.
c.
increase total revenue by $1,000.
d.
decrease total revenue by $1,000.