The National Environmental Protection Act (NEPA) of 1969
a. calls for Environmental Impact Statements (EIS) on major legislative proposals
b. coordinates environmental tasks among federal agencies
c. guides all environmental policy formulation in the United States
d. all of the above
e. (c) and (d) only
d. all of the above
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Dividing the nation's income among the factors of production, the largest percentage is paid to
A) labor B) land C) capital D) entrepreneurship E) labor and capital, with each receiving about 41 percent of the total income.
GE Appliance Division believes which of the following warrants shifting assembly of appliances back from Shanghai to Louisville, KY:
a. The negotiation of a two-tiered wage structure for union labor, b. Faster innovations when product design engineers and assembly line team leaders are located in the same place, c. quicker delivery to retail dealers reduce inventory storage d. none of the above, e. all of the above.
Suppose you inherit the only spring of mineral water in an area and want to maximize profits from this costless product. You would ask your customers to bring their containers with them and:
a. charge them the highest price possible to sell some output. b. charge them the lowest price possible to sell as much as you can. c. ask them how much they would like to pay and accept it. d. charge the price at which MR is zero. e. charge the price at which MR is maximum.
The demand curve for the product of a perfectly competitive firm's demand curve indicates that if the firm
A. changes its price, the quantity demanded will change in the opposite direction. B. accepts the market-set price, the number of units the firm can sell is limited. C. lowers its price, it can sell more. D. raises its price, sales will fall to zero.