Which of the following represents a transfer payment?
a. payment to a company for moving expenses
b. a Social Security benefit payment
c. payment to an importer
d. a postal clerkâs salary
b. a Social Security benefit payment
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Which of the following is an example of a person or firm that is most likely to have been granted a public franchise?
A) medical doctor B) taxi cab driver C) the local pizza parlor D) the local telephone company E) the local Honda dealership
If a good sells for $10 domestically and the same good sells for $7 abroad, then this firm is engaging in
A) marginal cost selling. B) price discrimination. C) price differentiation. D) dumping.
A worker who loses a job at a call center because business firms switch the call center to another country is an example of:
A. cyclical unemployment. B. disguised unemployment. C. frictional unemployment. D. structural unemployment.
The firm's demand for labor curve is its
A) average product of labor curve. B) marginal product of labor curve. C) marginal revenue product of labor curve. D) average revenue product of labor curve.