Which of the following is not included in the government's spending on security?
a. aircraft carriers
b. police stations
c. fire trucks
d. highways
e. county jails
D
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A market with well-established rules and structure is a(n) ________ market.
A. formal B. informal C. specific D. general
What types of international transactions are recorded in the balance of payment accounts?
What will be an ideal response?
The manager of a large luxury hotel chain is currently negotiating a four year contract with a linens supplier. The linens company will supply fresh laundered bedding and towels to the hotel over a four year period; however, the hotel chain can ends its contract with the linens company at the end of the first, second, or third years if the linens company does not supply quality linens. What can
the manager of the hotel chain do to avoid the end-game problem? A) Pay the linens company in full at the beginning of the first year. B) Pay the linens company one half of the contract amount after the first year and the remaining half after the second year. C) Pay the linens company in full after the first year. D) Offer to renew the contract if the linens company provides quality linens all four years.
Given the same cost data, a pure monopolist producer will charge:
A. a higher price and produce a larger output than a purely competitive industry. B. a lower price and produce a smaller output than a purely competitive industry. C. a higher price and produce a smaller output than a purely competitive industry. D. the same price and produce the same output as a purely competitive industry.