In the long run, all costs are variable
Indicate whether the statement is true or false
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From 1970 to 2006, data representing average real income for U.S. households indicates that the rich have ________ and the poor have ________
A) gotten richer; gotten poorer B) gotten richer; also gotten richer C) gotten richer; gotten neither richer nor poorer D) gotten poorer; also gotten poorer
Speculators who think the euro is likely to decline over the next year can take all of the following actions EXCEPT
A) buying put options on euros. B) sell euro futures contracts. C) sell euro forward contracts. D) buying call options on euros.
A risk-averse manager is hired to run a firm for shareholders. If the manager's effort can be observed and specified in a contract, which would be the best employment contract?
a. a high-powered incentive contract to elicit the most effort. b. a fixed salary paid as long as the required effort is undertaken. c. a proportion of profits paid as long as the required effort is undertaken. d. a wage well in excess of his or her outside opportunity.
If a city, in response to a rising crime rate, persuades a number of retired police officers to come back on the police department payroll, what effect will the rising crime rate have had on gross domestic product?
What will be an ideal response?