Private-sector firms’ beliefs about the economic climate can cause unemployment to linger even after a recession is over
Select whether the statement is true or false.
A. True
B. False
A. True
Private-sector firms’ beliefs about the economic climate can cause unemployment to linger even after a recession is over.
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Sammy has a drone that he values at $1,500. Dean values the same drone at $2,000. Sammy decides to sell the drone to Dean for $1,800. The government offers a subsidy of $800 to the buyers of drones
Producer surplus is ________ and consumer surplus is ________. A) $300; $200 B) $300; $1,000 C) $1,100; $800 D) $1,100; $600
The following is NOT an example of a potential monitoring solution to moral hazard
a. blocking social network sites on company computers b. closed circuit TVs throughout a warehouse c. requiring a kitchen remodeling contractor to be 'bonded' d. listening in on call center conversations
The term factor of production refers to
A. Labor only. B. Factories and machinery only. C. Only those goods that are produced and then used to produce other goods and services. D. Any resource input used to produce goods and services.
Assume the price elasticity of demand for MC Pretzel Co. pretzels is 0.8. If the company increases the price of each bag of pretzels, total revenue will
A. Increase because demand is elastic and revenue will rise. B. Increase because the percentage increase in price is greater than the percentage change in quantity demanded. C. Be impossible to predict because the percentage change in price is not known. D. Decrease because fewer bags will be sold.