Corrective taxes are more efficient than regulations for keeping the environment clean
a. True
b. False
Indicate whether the statement is true or false
True
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It is important for a business owner to understand the market structure in which they operate because:
A. it defines how much freedom they have to set prices. B. it will tell how much attention to pay to competitors’ behavior. C. it can help in deciding whether to advertise. D. All of these statements are true.
New residential housing is counted in GDP as a(n):
a. durable consumption good. b. household durable good. c. investment good. d. inventory expansion. e. long-term durable good.
Joe's Butcher Shop is producing where MR = MC, Joe's Butcher Shop must be
A) earning a zero economic profit. B) incurring a loss. C) maximizing profits. D) maximizing revenue but not maximizing profits.
Curly just graduated from State U and has three job offers: teaching at a prestigious private high school nine months a year with summers off, working forty hours a week at a bank in a small city, and working more than sixty hours a week for a high-powered investment firm in New York. The annual salary for each of these offers is probably:
A. lowest at the high school, in the middle at the investment firm, and highest at the bank. B. lowest at the bank, in the middle at the investment firm, and highest at the high school. C. lowest at the investment firm, in the middle at the bank, and highest at the high school. D. lowest at the high school, in the middle at the bank, and highest at the investment firm.