Surveys of consumers regarding labor standards indicate that they are willing to pay:
a. a large amount for a large improvement in working conditions.
b. a small amount for a large improvement in working conditions.
c. nothing for a large improvement in working conditions.
d. a small amount for a small decline in working conditions.
Answer: b. a small amount for a large improvement in working conditions.
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According to the Fisher effect, an increase in expected inflation results in:
A) lower nominal interest rates B) higher nominal interest rates C) lower real interest rates D) higher real interest rates
The fiduciary responsibility of board members means that they
a. protect the interests of all shareholders. b. resolve principal-agent problems. c. make sure the interests of large shareholders are protected first. d. reject the notion of maximizing shareholder value. e. none of the above.
Refer to the graph shown. The shift from SATC1 to SATC2 reflects:
A. diseconomies of scale. B. increasing marginal productivity. C. diminishing marginal productivity. D. economies of scale.
Which of the following is NOT an example of a command-and-control regulation to limit pollution?
A. Fuel economy standards for all new cars B. A 50-cent tax on gasoline C. Mandating the use of catalytic converters on all new vehicles D. A ban on leaded gasoline