The right to openly support and democratically select national leaders is
A) political freedom. B) capital freedom.
C) population freedom. D) economic freedom.
A
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The manager of a large luxury hotel chain is currently negotiating a four year contract with a linens supplier. The linens company will supply fresh laundered bedding and towels to the hotel over a four year period; however, the hotel chain can ends its contract with the linens company at the end of the first, second, or third years if the linens company does not supply quality linens. What can
the manager of the hotel chain do to avoid the end-game problem? A) Pay the linens company in full at the beginning of the first year. B) Pay the linens company one half of the contract amount after the first year and the remaining half after the second year. C) Pay the linens company in full after the first year. D) Offer to renew the contract if the linens company provides quality linens all four years.
Which is NOT an example of moral hazard
a. people eat more at all-you-can-eat buffets b. loggers clear-cut a tract of land when paying a fixed fee rather than when paying per tree felled c. Drivers of heavier, safer cares are more likely to run stop signs d. workers paid an hourly wage work harder than those on commission
In the short run, certain costs, such as rent on land and equipment, must be paid whether or not any output is produced. These are:
a. the firm's variable costs. b. the firm's break-even costs. c. the firm's sunk costs. d. the firm's marginal costs. e. the firm's fixed costs.
Which of the following characteristics is essential if a good is to be efficiently provided by a market economy?
a. The good should be subject to overuse. b. The good should be subject to the free rider problem. c. The good should be a common resource. d. The good should be excludable and rival in consumption