An example of ________ is an internship program.
A. social capital
B. tangible capital
C. infrastructure
D. intangible capital
Answer: D
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How can firms survive in the long run if mandatory retirement is illegal and if firms are stuck with older workers whose productivity might technically have fallen over time?
What will be an ideal response?
The positive externality associated with education is:
A. producers can get higher prices for their goods and services. B. less crowding in the classrooms. C. increases in societal well-being and economic growth. D. technological progress slows as basic research increases.
Suppose the price of a product is less than its average variable cost. When the firm's fixed obligations are completely ended, it will now most likely
a. make an economic profit b. go out of business c. expand to a bigger operation d. continue to be shut down e. break even
A 4 percent reduction in the price of a product causes consumer expenditure to remain the same. The price elasticity of demand is:
A. greater than zero but less than 1. B. equal to 1. C. greater than zero. D. zero.