Related to the Economics in Practice on p. 496: In 2014, the Congressional Budget Office estimated that with no changes to current laws, the federal debt will reach more than 100 percent of GDP by the year
A. 2017.
B. 2024.
C. 2039.
D. 2066.
Answer: C
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Examples of incentive pay include
a. commission sales b. providing onsite parking for employees c. cleaning the worksite with weekly janitorial service d. offering a certain number of sick days
The accompanying figure shows Becky's daily production possibilities curve for dresses and skirts.
Relative to point X, at point Y:
A. more skirts and fewer dresses are produced. B. more dresses and fewer skirts are produced. C. more dresses and more skirts are produced. D. fewer skirts and fewer dresses are produced.
In the former Soviet Union, nearly all resources were owned by
A. the government. B. business firms. C. individuals. D. foreigners.
The long-run equilibrium position of the monopolistic ally competitive firm occurs at a point where average costs are:
A. Constant B. Increasing C. Decreasing D. At their minimum point