President Obama is an advocate of free trade, but which of the following actions is contrary to free trade?
A. closing the Cuban prison
B. not getting the immigration problem solved.
C. imposing a 35% tax on imported tires.
D. implementing the stimulus plan.
C. imposing a 35% tax on imported tires.
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If the elasticity measure equals 1.0, then the demand is
A) elastic. B) unit elastic. C) inelastic. D) infinitely elastic.
Economic activity initiated by market participants imposes costs on free riders
Indicate whether the statement is true or false
Under a profit-sharing compensation scheme, the manager will:
A. not shirk all day. B. optimize his choice between income and leisure. C. shirk all day. D. do the same thing as under a fixed salary scheme.
In the table above, which of the following is TRUE?
A) Jim and Sally have increasing marginal utility. B) Jim has increasing marginal utility and Sally has diminishing marginal utility. C) Jim has diminishing marginal utility and Sally has increasing marginal utility. D) Jim and Sally have diminishing marginal utility.