The fraction of additional income spent on imports is called the
A) marginal propensity to export. B) import function.
C) marginal propensity to import. D) trade balance.
C
Economics
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The "fair results" view of fairness says that a minimum wage law set above the equilibrium wage rate is unfair because the minimum wage
A) does not apply to all workers. B) boosts the income of highly skilled workers. C) benefits only those workers who are able to find and keep a job. D) benefits nobody. E) cannot be enforced.
Economics
Which of the following is a profit-maximizing condition for a Cournot oligopolist?
A. Q1 = Q2 = ... = Qn. B. MR = MC. C. P = MR. D. All of the statements associated with this question are correct.
Economics