One of the most important forms of capital income is
A. interest.
B. investments.
C. dividends.
D. rents.
Answer: A
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In the figure above, if the minimum wage is $8 per hour, then
A) resources used in job-search activity increase compared to the situation before the minimum wage. B) it is legal to hire workers for a wage below the minimum wage because otherwise unemployment would result. C) the deadweight loss is minimized. D) Both answers A and B are correct. E) Both answers B and C are correct.
The marginal social benefit curve for a product can be the same as the good's
A) marginal cost curve. B) supply curve. C) demand curve. D) consumer surplus curve.
In a perfectly competitive market, the average revenue curve of a firm is
A) the same as its total revenue curve. B) the same as its demand curve. C) the same its economic profits. D) the difference between its total revenue curve and its marginal revenue curve.
The people firms hire to attempt to convince state legislators and members of Congress to pass laws that are favorable to the economic interests of the firms are called
A) economic advisors. B) legislative assistants. C) government bureaucrats. D) lobbyists.