In economics, the difference between a firm's revenues and its costs is referred to as
A) physical capital.
B) profit.
C) capital gains.
D) factor payments.
Answer: B
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A minimum wage set above the equilibrium wage will ________ the quantity of labor demanded and ________ the quantity of labor supplied
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease E) not change; not change
What is meant by the tragedy of the commons? Use an example to explain your answer
What will be an ideal response?
What is the main difference between monopolistic competition and monopolies?
What will be an ideal response?
Because of the relationship between an asset's real rate of return and its risk, one would expect to find all of the following, except one. Which one?
A) Corporate stocks have higher rates of return than U.S. Treasury bonds. B) Corporate stocks have higher rates of return than U.S. Treasury bills. C) Corporate stocks have higher rates of return than corporate bonds. D) Stocks of smaller companies have higher expected rates of return than stocks of larger companies. E) Mutual funds including stocks of companies in politically volatile developing countries do not have as high a rate of return as mutual funds restricted to stocks of companies in developed economies.