Which of the following is a lagging economic indicator?
A) Housing starts
B) Employment
C) Retail sales
D) Inflation
B
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P-TV and QRS-TV are trying to decide whether to air a sitcom or a reality show in a given time slot. Viewers like both sitcoms and reality shows, but sitcoms are more expensive to produce than reality shows since real actors need to be hired. QRS-TV makes its decision first, and then P-TV observes that choice before making its decision. Both stations know all of the information in the decision tree below. 
Suppose QRS-TV enters into an agreement with P-TV that gives QRS-TV the exclusive right to air a reality show during this time slot. QRS-TV would have to pay P-TV ________ in order to persuade P-TV to enter into this agreement.
A. nothing B. at least $5 million C. more than zero, but less than $5 million D. at least $10 million
Allocative efficiency is achieved when the marginal benefit of a good
A) exceeds the marginal cost by as much as possible. B) exceeds the marginal cost, but not by as much as possible. C) is less than the marginal cost. D) equals the marginal cost. E) equals zero.
A firm's demand for labor curve is the same as the firm's
A) marginal product curve. B) marginal cost curve. C) marginal revenue curve. D) value of marginal product curve.
An isoquant is a curve that shows all the combinations of two inputs that will produce the same level of output
Indicate whether the statement is true or false