Question

Which of the following best represents the idea of the marginal cost of increasing speed while driving?

a. The total amount of time it will take to arrive at your destination

b. The amount of time saved by increasing your speed

c. The probability that you receive a ticket for speeding

d. The increase in the probability that you receive a ticket as you increase speed

Which of the following could be considered an indirect response to incentives provided by government programs offering wage subsidies to companies that hire more workers?

a. Companies often replace more expensive full‐time workers with new part‐time workers (whose wages are being subsidized)

b. Companies often hire new workers because the subsidies reduce the cost of workers

c. Companies often decide that they do not need to hire new workers

d. All of the above .

Which of the following would cause the demand curve to shift to the right in the Moscow market for Hot Pockets?

a. A decrease in the price of Hot Pockets

b. An increase in Moscow’s population

c. An increase in the wages of workers in the production facilities where Hot Pockets are produced

d. A decrease in the price of the “meat” used to produce Hot Pockets e. Any of the above could shift the demand curve to the right

Answer 1

Which of the following best represents the idea of the marginal cost of increasing speed while driving?

Correct Answer will be - The amount of time saved by increasing your speed

Which of the following could be considered an indirect response to incentives provided by government programs offering wage subsidies to companies that hire more workers?

Correct Answer will be - Companies often hire new workers because the subsidies reduce the cost of workers

Which of the following would cause the demand curve to shift to the right in the Moscow market for Hot Pockets?

Correct Answer will be - Any of the above could shift the demand curve to the right