Since 1970, real GDP ___ in most years.
A. fell
B. stayed the same
C. rose
Ans: C. rose
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A firm will continue to purchase and use land until the:
A) value of marginal product of land equals the price of land. B) value of average product of land equals the marginal product of land. C) value of marginal product of land equals the marginal product of labor. D) value of marginal product of land equals the marginal product of capital.
The Federal Reserve issues a report indicating that future inflation will be higher than had previously seemed likely. As a result
A) the supply curve for bonds shifts to the right. B) the demand curve for loanable funds shifts to the left. C) the equilibrium interest rate falls. D) the equilibrium price of bonds rises.
Sam, a fish wholesaler, entered into a contract with a department store to supply herring at a price of $2.50 per pound for a year. When a hurricane closed most fisheries Sam increased the price to $3.25 per pound and refused to sell at the old price. Sam's behavior is an example of opportunism
Indicate whether the statement is true or false
Discrimination by a manager in the hiring process may be consistent with the decision to maximize profits if
a. customers are willing to pay higher prices in order to maintain the discrimination. b. the discrimination is based on race but not gender. c. the discrimination is based on gender but not race. d. Discrimination is never consistent with profit maximization.