At the _________ Conferences held from1899-1908, management as a discipline known as home economics was founded
a. Lake Placid
b. Packard
c. Smith-Lever
d. San Francisco
A
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The tax cut of 2001 turned out to be well-timed because it caused a
a. rightward shift of the aggregate demand curve. b. rightward shift of the aggregate supply curve. c. leftward shift of the aggregate demand curve. d. leftward shift of the aggregate supply curve.
Maintaining objectivity is easiest in:
A. the art of economics. B. positive economics. C. normative economics. D. subjective economics.
Suppose Grandis and Immanis are the only two companies that sell the product whose market demand curve is shown in the accompanying figure. For both companies, both average total cost and marginal cost are constant and equal to $2 (ATC = MC = $2).
Suppose Grandis and Immanis agree to collude by both charging the price a monopolist would charge and each producing half of the monopolist's profit-maximizing level of output. Grandis, however, decides to cheat on the collusive agreement. If Grandis charges $1 less than the monopoly price while Immanis continues to charge the monopoly price, then Grandis will earn a profit of ________ per day.
A. $20 B. $40 C. $160 D. $80
A point along a production possibilities curve shows
A. that in order to acquire more of one good, none of the alternative good must be given up. B. that in order to acquire more of one good, some of the alternative good must be given up. C. that any amount of goods could be produced by society if people worked harder. D. various combinations of guns and butter that can be produced under conditions of 6 percent unemployment.