Piece rate pay is
a. Compensation per dollar of profit of the company
b. Compensation per dollar of profit of the division
c. Compensation per piece a worker produces
d. Compensation per dollar of sales
c
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Does the proprietor of a grocery store who owns the building in which his business is located have lower costs than a grocery store proprietor who must pay rent for the building in which his store is located?
A) No, because no two businesses will be exactly the same. B) No, because the owner-proprietor loses the rent he could otherwise have been paid. C) Yes, because he can afford to set lower percentage markups. D) Yes, if the cost saving is not offset by higher expenses in other areas.
The broadly-defined money supply in the U.S., called M2, differs from M1 primarily in its inclusion of
A) bonds of all sorts held by the public. B) outstanding charge-account balances. C) savings deposits in financial institutions. D) Treasury bills held by the public. E) credit cards.
By changing the amount of income a consumer has to spend, a change in the price of one good may affect the quantity demanded of another good
a. True b. False Indicate whether the statement is true or false
One source of the supply of dollars in the world is
A. the purchase of U.S. exports by foreign residents. B. U.S. imports of foreign merchandise. C. the sale of U.S. domestic assets to foreigner residents. D. U.S. sales of gold to foreigner residents.