Which of the following is not an example of a type of factor of production?
A. Land
B. Labor
C. Government
D. Capital
Answer: C
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The managerial technique of markup pricing is consistent with the economic theory of profit maximization when the markup is positively related to the price elasticity of demand
Indicate whether the statement is true or false
A free-rider problem exists when a good that has the following characteristic?
a. Rivalry in consumption. b. Elastic demand. c. Inelastic demand. d. Nonexcludable.
A former union employee states: "We were on strike for two years. I know the eventual wage increase we received will never make up for the wages I lost, but I think the strike was worth it. We forced the company to give in to our demands." Evaluate these comments
If the reserves in U.S. banks totaled $10,000 and total deposits were $20,000, the banking system's reserve ratio would be:
A. 0.95. B. 0.05. C. 0.20. D. 0.50.