Which of the following would not be considered a fixed cost for a law firm?
a. paper for the photocopy machine
b. property taxes
c. insurance premiums
d. license fees
e. interest on loans
A
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The Consumer Price Index market basket contains
A) the goods and services that the economists working for the BLS believes consumers should buy. B) the U.S.-produced goods and services purchased by an average urban household. C) the minimal dietary requirements of an average urban household. D) the goods and services purchased by an average urban household. E) the ideal calorie intake of each member of an average urban household.
Macroeconomics:
A. is concerned with the expansion of a small business into a large corporation. B. is narrower in scope than microeconomics. C. analyzes mergers and acquisitions between firms. D. is concerned with the expansion and contraction of the overall economy.
A company's extraction cost curve slopes upward to reflect:
A. that marginal extraction costs increase as the company extracts more of the resource. B. that user costs rise as the company extracts more of the resource. C. that the price of the nonrenewable resource increases as the amount extracted increases. D. all of these.
Reparations for slavery in the United States would
A) be consistent with the Pareto principle. B) be inconsistent with the Pareto principle. C) have nothing to do with the Pareto principle. D) be unconstitutional.