Which one of the following is a source of conflict between owners and managers?
A. Managers and owners are both risk-takers.
B. Managers are more risk-averse, whereas owners are not.
C. Managers are less risk-averse, whereas owners are not.
D. Managers and owners are both highly risk-averse.
Answer: B
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An increase in capital brings a large increase in output at a ________ quantity of capital and a small increase in output at a ________ quantity of capital because of ________
A) large; small; the greater the quantity of capital the greater the output B) small; large; diminishing returns along the productivity curve C) large; small; diminishing returns along the productivity curve D) small; large; increasing returns along the productivity curve E) large; small; increasing returns along the productivity curve
An advance in technology increases the productivity of labor. As a result, the nation's production function shifts ________ and the ________ labor curve shifts rightward
A) upward; demand for B) downward; demand for C) upward; supply of D) downward; supply of
The difference between the value of a good to sellers and its price is known as: a. consumer surplus. b. producer surplus. c. demand
d. supply.
Which of the following provides a longer run measure of the exchange rate?
a. purchasing power parity (PPP) b. exchange rate c. GDP per capita d. GDP