Which of the following will tend to cause an increase in technology?
A. the development of new ideas
B. increases in human capital
C. an increase in research and development expenditures
D. all of these
Answer: D
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The Walt Disney Company uses cost-plus pricing to determine the prices it charges for admission and rides at Disneyland and Walt Disney World
Indicate whether the statement is true or false
Which of the following is TRUE?
a. Maximizing division profits will always lead to maximizing company profit b. Maximizing division profits will always lead to minimizing company profit c. Maximizing division profits can sometimes lead to reducing company-wide profit d. Maximizing division profits has no effect on company-wide profits
Explain why Adam Smith believed that competitive markets are a key component of achieving the gains from the invisible hand
According to the circular-flow diagram, if Denny is the owner of a landscaping business and he just received $50 for mowing Mrs. Pendleton's lawn,
a. the $50 represents a cost of production for Denny's firm. b. the $50 represents wages, rent, and profit to Denny's firm. c. Denny acts as a firm who interacted in the markets for factors of production with Mrs. Pendleton. d. Denny acts as a firm who interacted in the markets for goods and services with Mrs. Pendleton.