Per-capita income of a country is determined by ________
A) multiplying its gross domestic product by the total number of goods produced during that year.
B) dividing its gross domestic product by the total population of the country during that year.
C) multiplying its gross domestic product by the total population of the country during that year.
D) dividing its gross domestic product by the total number of goods produced during that year.
B
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To reduce the principal-agent problem
A) boards-of-directors can tie the salaries of top management to the profitability of the firm. B) managers can inflate profits on financial statements. C) managers can take on more risk than they disclose to investors. D) managers can hide liabilities by not disclosing them on financial statements.
The table below describes the value added in the production of a gallon of gasoline by each stage of production. (The values are hypothetical.)
Table 19-10 Stage of Production Value of Sales Value Added Oil drilling 0.75 Refining 1.25 Shipping 1.85 Retail sales 3.65 a) What is the value added by each stage of production? b) What is the total value added? For simplicity, you can ignore the cost of the inputs for oil drilling.
Which of the following groups had the highest poverty rate in 2014 in the United States?
A) Asians B) Hispanics C) blacks D) female heads of families
If the marginal benefit Isaac derives from the consumption of another candy bar is greater than the price of the candy bar, then: a. Isaac will not purchase any more candy bars
b. Isaac will increase his total satisfaction by purchasing the candy bar. c. the opportunity cost of the candy bar is less than the price. d. Isaac's total utility will diminish if he purchases the candy bar.