Conflicts of interest arising from management advisory services brought down ________ in 2002
A) Enron
B) WorldComm
C) Arthur Andersen
D) Global Crossing
C
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There are a number of reasons why labor supply curves will shift in a particular industry. Which one of the following is NOT one of them?
A) Changes in working conditions in an industry affect the labor supply curve. B) job flexibility that determines the position of the labor supply curve C) There is a change in the market wage rate. D) Taxes on labor affect the labor supply curve.
The "rule of 70" is a simple rule
a. (70 divided by the growth rate) that approximates the number of years it will take for income to double at various growth rates. b. (70 multiplied by the growth rate) that approximates the number of years it will take for income to double at various growth rates. c. (70 divided by the percentage of population over age 70) that can be used to approximate a nation's growth of real GDP. d. (70 multiplied by the percentage of population over age 70) that can be used to approximate a nation's growth of real GDP.
As we work fewer hours and our leisure time increases, the opportunity cost of labor
A. Rises and the marginal utility of income rises. B. Falls and the marginal utility of income falls. C. Falls and the marginal utility of income rises. D. Rises and the marginal utility of income falls.
The market value of final output produced in a given period measured in the prices of that period is:
A. Real GDP. B. GDP per capita. C. Nominal GDP. D. Potential GDP.