Production data for Joe's Pizza Parlor are as follows. For simplicity assume that labor is the only input. Each pizza sells for $5. Number of WorkersPizzas Baked Per Day00110218324430532How many workers will Joe hire if he must pay each one $35 a day?
A. 1
B. 2
C. 3
D. 4
Answer: B
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Which standard states that "the owner is entitled to receive 'what a willing buyer would pay in cash to a willing seller' at the time of the taking"?
A) the comparable sales method B) just compensation C) fair market value D) the equitable transactions cost method
Consider a public good such as fire protection services. Rich people may benefit more than the poor from such a service because rich people stand to lose more from a fire that destroys property. In this case
A) the benefits-received principle may support the rich paying more taxes than the poor, but not the ability-to-pay principle. B) the ability-to-pay principle may support the rich paying more taxes than the poor, but not the benefits-received principle. C) neither the benefits-received nor the ability-to-pay principles may support the rich paying more taxes than the poor. D) both the benefits-received and the ability-to-pay principles may support the rich paying more taxes than the poor.
Mortgage backed securities had a role in the 2008 financial crisis
Indicate whether the statement is true or false
Under monopoly, resources are allocated as efficiently as in perfect competition.
Answer the following statement true (T) or false (F)