If income distribution in an economy is perfectly equal, the lowest quintile will earn 20% of total income
Indicate whether the statement is true or false
TRUE
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If a firm is producing an output level at which marginal revenue exceeds marginal cost, the firm will increase profits by reducing its output level
a. True b. False Indicate whether the statement is true or false
Since the future holds more uncertainty over longer periods of time, lenders generally want a:
A. higher interest rate for loans over a longer period. B. lower interest rate for loans over a longer period. C. higher interest rate for loans over a shorter period. D. constant interest rate for loans over the period of the loan.
If a manager believes there are too many pay levels and would like to reduce the number of pay levels from 30 to 20 by combining multiple pay levels, it will engage in _______.
A) team sharing B) piecework C) profit sharing D) broadbanding
A benefit of unions is that they
A) increase firm profits. B) increase the stability of the workforce. C) increase wage inequality. D) restrict the labor market.