Jobs have at least two important dimensions that include
A. decision authority and decision control.
B. variety of tasks and uncertainty.
C. uncertainty and decision control.
D. variety of tasks and decision authority.
Answer: D
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Consider two straight-line PPFs. They have the same vertical intercept, but curve I is flatter than curve II. The opportunity cost of producing the good on the vertical axis
A) is greater along curve I. B) is greater along curve II. C) is the same along both curves. D) cannot be compared for the two curves without more information.
If a firm shuts down in the short run, then its:
A. economic loss will equal its variable costs. B. total revenue and total cost will fall to zero. C. economic loss will equal its fixed costs. D. profit will equal zero.
Which of the following causes a rightward shift of the short-run aggregate supply (SRAS) curve?
A. an increase in the overall price level B. a reduction in the price of a raw material C. an increase in the wage rate D. a decrease in firms' production with more inputs
A publisher sells $400,000 worth of books, magazines, and other reading materials in a given year. The publisher earns a profit of $100,000 that year. Her purchase invoices indicate that she bought $100,000 worth of glue, paper, and other materials during the year. Her labor costs were $150,000, and she purchased $45,000 of new equipment that year. Calculate her tax liability under a 12% consumption-type, value-added tax.
What will be an ideal response?