If a car salesman is paid a fixed salary, the owner is most likely to see
a. A large volume of sales, with large margins
b. A large volume of sales with no margins
c. Low to no sales with low margins
d. Low sales but with large margins
c
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Why do purely technological theories have difficulty explaining recessions in which real GDP falls?
What will be an ideal response?
The Fed raises the interest rate when it
A) fears recession. B) wants to increase the quantity of money. C) fears inflation. D) wants to encourage bank lending. E) cannot change the quantity of money.
Intellectual property rights provided by patent systems typically ________
A) provide tax incentives to encourage research and development B) allow for the depreciation of capital C) compensate the government for building infrastructure D) last about twenty years
Which of the following is an example of asymmetric information?
a. A student adopting unfair means to complete his/her assignment. b. A commodity trader buying goods at a low price and selling them off at a high price. c. A builder selling houses built on property that is zoned for industrial use. d. A buyer paying a pre-contracted price which is lower than the current market price.