The ways to address agency costs include all EXCEPT
a. running background checks on prospective employees
b. hiring only from job fairs
c. spot checks of the quality of employee work
d. replacing closed offices with cubical office spaces
c
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A federal budget deficit
a. occurs when government expenditures exceed tax revenues. b. occurs when monetary policy works in the opposite direction of fiscal policy. c. occurs when tax revenues exceed government expenditures. d. occurs when transfer payments exceed tax revenues. e. will always result when Congress and the president cannot agree on expenditures.
Suppose the prices of a pair of jeans, a shirt, and a tie are $30, $20, and $10 respectively. Which of the following statements is true in this context?
A) The opportunity cost of buying a pair of jeans is 2 ties. B) The opportunity cost of buying a tie is 3 pairs of jeans. C) The opportunity cost of buying a tie is 2 shirts. D) The opportunity cost of buying a shirt is 2 ties.
Raquel, who earns $900 a week, bought a television set and gained $70 consumers' surplus. What price did she pay for the good?
A) $40 B) $830 C) $160 D) $5 E) There is not enough information to answer the question.
When demand decreases, the demand curve shifts
A. on its axis, becoming flatter. B. upward and to the right. C. downward and to the left. D. on its axis, becoming more vertical.