Economists assume that business firms attempt to maximize their profits
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is true of the expenditure-based method of national accounting?
A) It does not track the purchase of goods and services by the government. B) It only tracks the purchase of goods and services by the government. C) It tracks the purchase of investment goods by firms and households. D) It does not track the purchase of services by households.
Which of the following would increase labor productivity?
a. A decrease in the amount of capital per unit of labor b. A change in technology that improves the quality of capital c. A decrease in the unemployment rate d. An increase in the number of inexperienced workers entering the labor force e. A decrease in the quality of capital
Regulated industries that exhibit economies of scale and marginal cost pricing will lead to losses.
Answer the following statement true (T) or false (F)
In order to effectively price discriminate, one requirement is that a seller must be able to:
A. reduce costs when producing the discounted item. B. resell the product. C. avoid detection because price discrimination is illegal. D. identify customers with different reservation prices.