The over hunting of U.S. buffalo that nearly caused their extinction would be an example of the tragedy of the commons
a. True
b. False
Indicate whether the statement is true or false
True
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Why do some workers lose their job when the minimum wage is increased?
A) The increase in labor costs decreases the supply of the product, thereby raising the price of the good so that the equilibrium quantity decreases to zero. B) The increase in the minimum wage decreases the quantity of labor demanded. C) The demand for labor is perfectly inelastic. D) The supply of labor decreases. E) The demand for labor is perfectly elastic.
In the above figure, at a wage rate of $20 per hour
A) there is a shortage of labor. B) there is a surplus of labor. C) the labor supply curve will shift rightward. D) the labor demand curve will shift rightward.
The supply of loanable funds comes from:
A. savings. B. investment. C. borrowers. D. taxes.
The internal rate of return is likely to lead to incorrect decisions.
A. True B. False C. Uncertain