The quantity theory of money is based on the equation of ______.
Fill in the blank(s) with the appropriate word(s).
exchange
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Happy Cows is a dairy farm that is currently earning $50,000 in economic profit. The managers of Happy Cows are considering adding a second dairy farm, which will generate an additional $10,000 in economic profit. It is economically sound for the managers of Happy Cows to add the second farm if, after accounting for the managerial diseconomies, the first farm's economic profits exceed ________.
A) $30,000 B) $40,000 C) $10,000 D) $20,000
A means tested government program is one that:
A. is pilot tested to see if it works. B. provides assistance to those below a certain income level. C. is temporary and ends after a short period of time. D. All of these
Refer to Scenario 1.2 below to answer the question(s) that follow.SCENARIO 1.2: A scientist wants to understand the relationship between automobile emissions and the level of global warming. The scientist collects data on the volume of automobile emissions and the levels of global warming over time. The scientist concludes that a 1% increase in automobile emissions causes a 0.0003% increase in average global temperatures. From this information he concludes that the automobile emissions are harmful to the environment and should be reduced to stop the increase in global temperatures.Refer to Scenario 1.2. The statement that a 1% increase in the automobile emissions causes a 0.0003% increase in average global temperatures is an example of
A. marginal economics. B. normative economics. C. the fallacy of logic. D. positive economics.
Many economists suggest that absent legal mechanisms of discrimination, the wage paid to whites and blacks will converge because
A. employers will feel guilty about hiring only whites. B. if employers can hire whites and blacks at the same wage, they will hire equal numbers. C. employers will feel guilty about paying whites more when other firms pay equally. D. it will be in the interest of profit-minded employers to hire blacks, thus bidding up their wages.