Using piece rates for employees in an assembly line usually increases ________, but it may reduce ________.
A. quality; output
B. revenue; costs
C. costs; revenue
D. output; quality
Answer: D
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The table above shows the demand and costs for a single-price monopolist. When it maximizes its profit, the firm makes an economic profit of
A) $15. B) $25. C) $40. D) $45.
The government corporation that insures pension benefits is
A) Fannie Mae. B) Ginnie Mae. C) Penny Benny. D) Sallie Mae.
The Celler-Kefauver Act of 1950 plugged a technical loophole in the Clayton Act which permitted many large horizontal mergers
a. True b. False Indicate whether the statement is true or false
Inflation
A) is a continuing decline in the general level of prices of goods and services. B) implies that the number of people unemployed has risen. C) reduces the purchasing power of the dollar. D) is an increase in the price of a single good or service.