Most of the income of Americans comes from
a. transfer payments.
b. the ownership of bonds and physical assets.
c. the ownership of bonds and corporate stocks.
d. the ownership of human capital.
D
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The three central questions for efficient organizational design include all EXCEPT
a. does the decision maker have the relevant information? b. is the decision maker in a supervisory role? c. who is making the decision? d. does the decision maker have an incentive to make a good decision?
A monopolistic competitor's demand curve becomes less elastic as new entry occurs
a. True b. False Indicate whether the statement is true or false
According to Piketty, economic history is the story of a race between:
a. capital accumulation b. population growth c. technological progress d. all of the above e. a and c only
Labor and land are substitutes. If rent goes up and the amount of labor used goes down, we can assume that the
A. output effect outweighed the substitution effect. B. the substitution effect outweighed the output effect. C. the substitution effect and the output effect canceled each other out. D. there is no way to determine the relative weights of the substitution effect and the output effect.