In the circular flow, nonprofit institutions are
a. counted as businesses.
b. excluded.
c. treated separately.
d. counted as households.
a. counted as businesses.
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Suppose Andrea is taking just two courses and is at a point inside her PPF of grades for those two courses. If Andrea changes her work habits then it is impossible for
A) either one of her grades to rise. B) both of her grades to rise. C) both of her grades to fall. D) either one of her grades to rise while the other grade remains constant. E) none of the above is impossible in this situation
A firm owner wants a manager to make difficult personnel decisions when necessary (which requires firing a worker every now and then) in order to maximize the firm's profits. The manager, however, prefers to not fire anyone. The worker also prefers not to be fired. In this example, who is the principal and who is the agent?
A. The firm owner is the principal. The manager is the agent. B. The firm owner is the principal. The should-be-fired worker is the agent. C. The manager is the principal. The firm owner is the agent. D. The should-be-fired worker is the principal. The firm owner is the agent. E. The should-be-fired worker is the principal. The manager is the agent.
Which of the following trade agreements provides for the development of a single market among its members?
A. North American Free Trade Agreement B. World Trade Organization C. European Union D. Asian Pacific Economic Cooperation
If the Environmental Protection Agency (EPA) directs an old lace factory to install an expensive water purification system to treat its wastes before they are discharged into the river,
a. the price of lace will fall b. the lace factory may go out of business c. this directive is unenforceable d. the private cost curve will shift to the right e. more lace is sold so the factory can cover the higher costs