The text refers to the Green Bay Packers as an example of a nonprofit corporation that is no less efficient than a profit-maximizing NFL team
Indicate whether the statement is true or false
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In any efficiency wage model, it must be true that
a. the marginal benefit of increased efficiency is equal to the marginal cost of higher wages. b. nominal wages are inflexible. c. disequilibrium in the labor market exists. d. all of the above. e. none of the above.
What is not true of The Federal Reserve Act (1913)?
a. Membership in the system was made compulsory for national banks. b. State banks were not permitted to join the system. c. The member banks nominally owned the Federal Reserve Banks. d. Member banks had to deposit cash, previously held as reserves, with the district Federal Reserve Bank.
Suppose a monopolist is at the profit-maximizing output level. If the monopolist sells another unit of output:
A. both producer surplus and consumer surplus increase. B. both producer surplus and consumer surplus decrease. C. producer surplus rises but consumer surplus falls. D. producer surplus falls but consumer surplus rises.
Without productivity growth, what is the long run the effect of labor migration?
a. There will be an increase in production in the sector using labor (or capital) intensively. b. There will be clear gains to owners of capital versus labor. c. There will be clear gains to labor versus owners of capital. d. There will be a shift of world resources toward the highincome nations.