The EU organization that provides political leadership, drafts laws, and runs the daily programs of the EU is the ________.
A) European Commission
B) Council of Ministers
C) European Parliament
D) European Central Bureaucracy
A) European Commission
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A positive markup is earned by a firm if its
A) price exceeds its marginal cost. B) marginal revenue equals marginal cost. C) price equals marginal cost. D) price equals average total cost.
Demand shows
a. the various quantities people are willing and able to buy at various prices, ceteris paribus. b. the various quantities people are able and willing to buy at various prices. c. the various prices people face when buying. d. how much people buy at one specific price.
Which of the following government policies might increase labor supply?
a. Increasing transfer payments to the needy. b. Decreasing income tax rates. c. Increasing income tax rates. d. Increasing the availability of government training programs. e. Increase payroll taxes.
The perpetual problem in economics is:
A. our inability to work together effectively. B. our inability to satisfy everyone's wants with the available resources. C. likely to be solved in resource-rich countries. D. our inability to utilize resources efficiently.