Which of the following are three key components of the economic problem?
a. scarcity; choice; giving up valuable opportunities
b. surplus; choice; competing opportunities
c. scarcity; competing opportunities; income
d. surplus; income; giving up valuable opportunities
a. scarcity; choice; giving up valuable opportunities
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What conclusion did the 1962 University of Chicago study on the burden of the corporate tax rate make?
What will be an ideal response?
Which of the following is a part of the Global Legal Settlement of 2002?
A) The establishment of a Public Company Accounting Oversight Board (PCAOB) to supervise accounting firms and thus insure that audits are independent and controlled for quality. B) Increased penalties for white-collar crime and obstruction of official investigations. C) Requires a CEO and CFO to certify that periodic financial statements and disclosure of the firm are accurate. D) Requires investment banks to make public their analysts' recommendations.
The exchange rate that is established in the absence of foreign exchange market intervention by the government is known as a(n):
a. historical anachronism. b. fixed exchange rate. c. "dirty float" exchange rate. d. unmanaged exchange rate. e. free market equilibrium exchange rate.
Suppose that the slope of a line tangent to the total cost curve at point X is steeper than the slope of a line tangent to the total benefit curve at point X, then:
A. net benefit would be increased by reducing the amount of the activity. B. net benefit would be decreased by reducing the amount of the activity. C. net benefit would be increased by increasing the amount of the activity. D. net benefit is maximized.