Evidence suggests that, in the real world, people appear to care about fairness
a. only when it coincides with their own self-interest.
b. only when it coincides with their determination to be consistent over time.
c. even when it does not coincide with their own self-interest.
d. not at all.
c
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The "new economy" that emerged in the mid-1990s is based on
A) manufacturing. B) information technology. C) financial services. D) retail sales.
A profit-maximizing firm always
A. sells its output at P = MC. B. produces at the output at which MR is maximized. C. hires labor until the MRP of labor < 0. D. finds the output where marginal profit is zero.
If a country lacks ________, economic growth ________
A) a democratic form of government; cannot occur B) a proper incentive system; cannot occur C) pure capitalism; will be slower compared to other countries D) a proper incentive system; will occur at a pace suggested by the new growth theory E) economic freedom; will increase at a faster pace
The government has used the Sherman Act to break up monopolies in which of the following industries?
A. Coal B. Fishing C. Trucking D. Tobacco