Compensation paid in proportion to the number of units of personal output best describes:
A. royalties.
B. profit-sharing.
C. bonuses.
D. piece rates.
Answer: D
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When studying pollution and the environment, economists
A) have no role to play. B) concentrate on the physical aspects of the environment. C) emphasize costs and benefits. D) attempt to reduce pollution at all costs. E) think pollution is good if it occurs when production takes place.
The buyer of a good has less information than the seller of the good. This is a case of
A. externality information. B. free ridership. C. asymmetric information. D. biased information. E. a public good not being a private good.
In what year did the mutual fund industry in the United States begin?
A) 1812 B) 1924 C) 1974 D) 1990
If velocity is constant and equal to 5, a $20 billion shift of the LM curve to the right will be produced by a __________ in the money supply
A) $100 billion increase B) $100 billion decrease C) $4 billion increase D) $4 billion decrease