According to some economists, the private sector is more efficient than the public sector mainly because:
A. the private sector has a clear test of performance: profit and loss.
B. wages, salaries, and fringe benefits are higher in the private sector.
C. worker turnover is higher in the public sector.
D. of extensive negative externalities in the public sector.
Answer: A
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Economists assume that, in general, when individuals are faced with two choices that have the same expected value, they will prefer:
A. the one with lower risk. B. the one with higher risk. C. the one with the higher opportunity cost. D. the one with the lower future value.
A profit-maximizing monopolist
a. never produces on the inelastic portion of the demand curve because it can increase profit by increasing output b. never produces on the inelastic portion of the demand curve because marginal revenue exceeds marginal cost c. always produces on the inelastic portion of the demand curve d. never produces on the elastic portion of the demand curve because there are no substitutes for the good it produces e. never produces on the inelastic portion of the demand curve because marginal revenue is negative there
If banks hold any amount of their deposits in reserve, then they do not have the ability to influence the money supply
a. True b. False Indicate whether the statement is true or false
In 2014, the Italian adult non-institutionalized population was 38.8 million, the labor force was 25.4 million, and the number of people employed was 22 million. According to these numbers, the Italian labor-force participation rate and unemployment rate were about
a. 65.5% and 13.4% b. 65.5% and 8.8% c. 56.7% and 13.4% d. 56.7% and 8.8%