Which of the following statements is false?
a. Economists look at the factors that lead an individual to decide that a particular idea is in his or her best interest.
b. Economists do not ask whether a particular decision is in the individual's best interest.
c. Choices must be made because of scarcity.
d. A particular choice is made by an individual because that choice provides the greatest satisfaction.
e. None of these statements is false, they are all true.
e
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All else equal, increases in proprietors' income will ________.
A. increase wages B. increase exports C. increase profits and losses D. increase gross investment
Incentive problems are usually
A. smaller when the decision rights are placed lower in the organization. B. large regardless of where the decision rights are placed. C. larger when the decision rights are placed higher in the organization. D. larger when the decision rights are placed lower in the organization.
Which list has market structures in the correct order from the most to the least market power?
A.) Perfect competition, oligopoly, monopolistic competition, monopoly B.) Monopoly, monopolistic competition, oligopoly, perfect competition C.) Monopoly, oligopoly, monopolistic competition, perfect competition D.) Oligopoly, perfect competition, monopolistic competition, monopoly
The CPI tends to overstate the true inflation rate because
A. we cannot know what the true inflation rate is. B. the market basket actually selected is inappropriate. C. the market basket fails to weigh housing costs sufficiently. D. it fails to consider the effects of new products in the marketplace.