To incentivize a salaried manager at a company store to work harder, the management should
a. Offer the manager the franchise
b. Offer the manager a raise
c. Centralize all decision-making
d. None of the above
a
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When we compare shares of income earned by U.S. households over the past 40 years, which of the following statements about the distribution of income is true?
A) The percentage of total income represented by each quintile has increased. B) The percentage of total income represented by each quintile has decreased. C) The largest gain in income percentage is in the top 5% of households. D) Lower-income households gained at the expense of higher-income households.
Because of the owner's prejudice, a firm chooses to discriminate against hiring Asian workers. Compared to an otherwise identical, nondiscriminating firm in the same competitive market, the discriminating firm will: a. incur higher costs
b. receive lower profits. c. receive higher profits. d. be characterized by both (a) and (b).
Outsourcing is a source of increased U.S. output.
Answer the following statement true (T) or false (F)
The opportunity cost of taking a semester-long economics class is
A) the cost of tuition and fees only. B) the value of the time spent in the classroom. C) zero because there is no admission charged if you are enrolled in the course. D) equal to the highest value of an alternative use of the time and money spent on the class. E) the knowledge and enjoyment you receive from attending the class.