The slope of the consumption function shows how:
a. consumption changes over time.
b. consumption changes as household size changes
c. consumption changes as the price level changes.
d. income changes as the level of consumption changes.
e. consumption changes as the level of income changes.
e
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Suppose the California Nurses Union successfully secured a 12 percent increase in the wages of registered nurses
If a hospital responds by reducing the quantity of registered nurses hired and increasing the quantity of physician's assistants hired, what conclusion can you draw? A) The price elasticity of demand for registered nurses is negative while the price elasticity of demand for physician's assistants is positive. B) The cross-price elasticity of demand between registered nurses and physician's assistants is negative. C) Physician's assistants are more valuable in terms of their productivity. D) The cross-price elasticity of demand between registered nurses and physician's assistants is positive.
Which of the following would be illegal under the Clayton Act?
A. Executives from Nike and Reebok meet to fix the price of athletic shoes. B. Ford and Firestone Tire agree to merge. C. Xerox will only sell its copy and print machines if buyers agree to also buy a service contract. D. Healthy Energy Bar Co. falsified a study showing the health benefits of its product and uses that study in its advertising.