Which of the following generally does NOT seek to maximize profit?
A) public sector companies
B) corporations
C) partnerships
D) sole proprietorships
A
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If the price effect outweighs the quantity effect, then a tax:
A. increase will raise revenue. B. decrease will raise revenue. C. increase will lower revenue. D. increase will not change revenue.
If the economy were producing at point E and moves to point D,
Hypothetical Production Schedule for a Two-Product Economy
A. resources will shift from producing capital goods to producing consumer goods.
B. resources will shift from producing consumer goods to producing capital goods.
C. more capital goods can be produced without any sacrifice in consumer goods production.
D. more consumer goods can be produced without any sacrifice in capital goods production.
The government may impose industrial safety regulations and occupational licensing requirements in which of the following economic systems?
A. Laissez-faire economy B. Pure capitalism C. Mixed market economy D. Macroeconomic system
Everything else held constant, a change in workers' expectations about inflation will cause ________ to change
A) aggregate demand B) short-run aggregate supply C) the production function D) long-run aggregate supply