Which of the following is heavily subsidized by state and local governments?
A) Medicare
B) Social Security
C) public education
D) food stamps
C
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An example of an intermediate good would be
A) the soda pop sold by Quiznos. B) the bread that goes into a sub sandwich that is sold by Quiznos. C) the potato chips sold by Quiznos. D) a sub sandwich sold by Quiznos.
The resource based perspective indicates that firms exhibit different performances within the same industry because
a. Some firms have better resources than others b. Some firms have organizational structures that can be duplicated c. Some firms sell goods that have a more elastic demand d. Some firms sell goods that have a perfectly elastic demand
Refer to Figure 10.2. Which line represents earnings?
A. a
B. b
C. c
D. h
Adam Smith argued that greater specialization and division of labor are likely to:
A. reduce worker productivity. B. improve standards of living. C. reduce standards of living. D. replace workers with machines, resulting in massive unemployment.