Jerome has a "C" average in his philosophy course and a "B" average in his economics course. He decides to study an extra hour for his philosophy exam. This is an example of:
A. thinking at the margin.
B. using assumptions to simplify.
C. ceteris paribus.
D. caveat emptor.
Answer: A
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The emergence of English as the de facto world language has ________ a comparative advantage in the production of books, movies and popular music:
A. given English-speaking countries B. given all countries C. had no effect on which country has D. given non-English-speaking countries
A market is allocatively efficient if
A) the sum of the consumer surplus and the producer surplus has been maximized. B) consumer surplus has been maximized. C) producer surplus has been maximized. D) profit has been maximized.
Explain why the labor supply curve is positively sloped. Explain why labor demand is downward sloping
What will be an ideal response?
A company raises funds by selling 5 million shares of common stock to 5,000 shareholders and $1 million bonds to 1,000 bondholders. The number of individuals who vote for the company's board of directors is
A. 5,000. B. 6,000. C. 1,000. D. 5,000,000.