The relationship between disposable income and consumption expenditure is
A) positive.
B) U-shaped.
C) negative.
D) nonexistent.
E) not stable because it depends on whether the economy is in equilibrium or not.
A
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Comment on the following statement: "Firms should maximize the difference between marginal revenue and marginal cost."
What will be an ideal response?
In the United States, barriers to entry in professional team sports (for example, football and baseball) result from
A) the draft of college players, which grants teams exclusive signing rights to individual players. B) long-term leases teams sign for stadiums and ballparks in major cities. C) the reserve clause, which is a provision in contracts of professional athletes that require them to play for specific teams over the length of their contracts. D) television contracts, which give networks the exclusive rights to broadcast games.
An individual with a Ph.D. in physics who can find employment only in a pizza parlor would be considered: a. discouraged
b. underemployed. c. overemployed. d. voluntarily unemployed. e. long-term unemployed.
Which of the following would be recorded as a U.S. merchandise export? a. An American tourist spends 10,000 francs on vacation in the south of France. b. A machine shop in Ohio purchases a grinder made in Italy. c. An American receives a $50 dividend check on stock she owns in a business in Germany
d. The U.S. government subsidizes American farmers for planting corn for export. e. France purchases a new jet fighter aircraft from the Boeing Company in the United States.