The capabilities approach considers:
A. how much human capital improves over time in a society.
B. what people can be and how much people can do over time in a society.
C. how much human capital one society has relative to another.
D. how much total output changes over time in a society.
Answer: B
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The firms in the petroleum industry of Oiland have decided to cooperate with each other by setting their respective market shares. This is an example of ________ in the petroleum industry
A) cost cutting B) undercutting C) collusion D) free riding
The calculation of GDP using the income approach EXCLUDES
A) rent. B) interest. C) environment quality. D) wages. E) profit.
Which of the following is the least efficient method of allocating import licenses by the government?
A. Resource-using application procedures B. A free lottery C. Fixed favoritism D. A competitive auction
Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $10. What does total revenue equal when quantity equals 4?
A. $36 B. $4 C. $6 D. $40