Which of the following is an example of an activity with an external cost?
A. Speeding on the interstate.
B. Having to buy batteries for the new remote that came with a TV.
C. Keeping your front yard clean.
D. Raising honeybees where neighbors on all sides grow apples.
Answer: A
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The distribution of U.S. income is not bell-shaped because
A) there are more households with incomes below the mean income than above the mean income. B) there are more households with incomes above the mean income than below the mean income. C) the mode income equals the mean income. D) the income distribution is bell shaped.
If a multinational is controlling funds, it will expect a subsidiary to remit a ________ portion of their earnings if this subsidiary has the opportunity to reinvest its earnings profitably
A) significant B) substantial C) smaller D) larger
Total profit is maximized where
a. MR = MC. b. marginal profit is zero. c. the slope of the marginal profit curve is zero. d. All of the above are correct.
Whirlpool Corporation buys steel in sheets to manufacture refrigerators. Whirlpool also buys a new factory and a metal press to mold the steel. Which purchases are included in GDP?
a. the steel b. the steel, the factory, and the metal press c. the factory and the metal press d. the steel and the metal press