The labor supply and demand most directly affect the level of ________ in an economy
A) people requiring retraining B) welfare benefits
C) people attending colleges D) employment
D
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Common stockholders
A) must be paid a dividend. B) interest. C) may or may not be paid a dividend. D) must buy new shares from the company.
To economists, good environmental policy begins by acknowledging one of the Ten Principles of Economics:
a. Trade can make everyone better off. b. People face trade-offs. c. Markets are usually a good way to organize economic activity. d. A country's standard of living depends on its ability to produce goods and services.
What is the difference between command-and-control policies and market-based policies toward externalities?
a. Command-and-control policies provide incentives for private decisionmakers to solve the problems on their own, whereas market-based policies regulate behavior directly. b. Command-and-control policies rely on taxes, whereas market-based policies rely on quotas. c. Command-and-control policies regulate behavior directly, whereas market-based policies provide incentives for private decisionmakers to change their behavior. d. Command-and-control policies are efficient, whereas market-based policies are inefficient.
Mrs. Smith operates a business in a competitive market. The current market price is $8.50 . At her profit-maximizing level of production, the average variable cost is $8.00, and the average total cost is $8.25 . Mrs. Smith should
a. shut down her business in the short run but continue to operate in the long run. b. continue to operate in the short run but shut down in the long run. c. continue to operate in both the short run and long run. d. shut down in both the short run and long run.