The goal of managers is to manage resources in such a way
A) to make them worth as much as they would be in their next best use.
B) to make them worth more than they would be in any other use.
C) to cover the cost of capital.
D) to cover all opportunity costs.
B
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Abe can catch 10 pounds of fish an hour or pick 10 pounds of fruit. Zeb can catch 30 pounds of fish an hour or pick 20 pounds of fruit
The opportunity cost of fish is ________ for Abe than for Zeb, and the opportunity cost of fruit is ________ for Abe than for Zeb. A) higher, lower B) lower, higher C) higher, higher D) lower, lower
Underproduction of good ________ create a deadweight loss and overproduction of a good ________ create a deadweight loss
A) will; will B) will; will not C) will not; will D) will not; will not
Economists such as James Tobin and Paul Samuelson claimed that _________ provided solid evidence of the effectiveness of Keynesian policies
a. increases in deficit spending accompanied by extremely low unemployment during WWII b. increases in taxes accompanied by rising federal budget surpluses c. increases in the money supply accompanied by falling interest rates d. price controls accompanied by inflation
The textbook suggests that rent controls
A. actually contribute to the housing shortage in the area where they are applied. B. are used in a government kickback scheme. C. actually contribute to the housing boom in an area where they are applied. D. have no effect on the local housing market.