Which of the following statements best describes pre-1763 British colonial life?
a. British directives influenced day-to-day life only modestly.
b. Bureaucratic apathy in part often led to colonial laws to become effective before they were reviewed in England.
c. Government activity in general was a minor aspect of colonial affairs.
d. All of the above are correct.
e. None of the above are correct.
d. All of the above are correct.
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Refer to Figure 14.1. Other things equal, a decrease in taxes is best represented as a movement from
A) point Y to point Z. B) point Z to point X. C) point Z to point Y. D) point Y to point X.
Average fixed cost
A) does not change as total output increases or decreases. B) varies directly with total output. C) falls continuously as total output expands. D) rises as the output is expanded.
Kate is a professional opera singer who gives voice lessons. The vocal-music industry is competitive. Kate hires a business consultant to analyze her financial records. The consultant recommends that Kate give fewer voice lessons. The consultant must have concluded that Kate's
a. total revenues exceed her total accounting costs. b. marginal revenue exceeds her total cost. c. marginal revenue exceeds her marginal cost. d. marginal cost exceeds her marginal revenue.
Many manufacturers sell products labeled as having imperfections at a discount at their factory outlets but do not ship these imperfect goods to regular retail outlets. Why?
What will be an ideal response?