A positive aspect of migration out of developing countries is
a. reduced population growth
b. remittances to developing countries
c. increased agricultural productivity
d. increased foreign aid
e. all of the above
B
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Policies to encourage higher personal saving rates include ________
A) lowering income taxes B) lowering sales taxes C) increasing the quantity of money D) raising asset prices E) reducing interest rates
Which of the following is not true with regard to economic profit?
a. economic profit equals total revenue minus total cost b. economic profit excludes implicit cost c. economic profit is any profit greater than a normal profit d. firms attempt to maximize economic profit e. long-run economic profit is always zero in perfect competition
Union membership rates in the U.S. are
a. highest among government employees b. highest among industrial sector employees c. highest among service sector employees d. increasing at a faster rate than the labor force e. highest among women
The firm in a perfectly competitive industry is a
A. price taker. B. price dealer. C. price maker. D. price seeker.