Why are music, television, and movie companies concerned about their products being posted to Internet Web sites such as YouTube?
What will be an ideal response?
These companies believe that their intellectual property rights are being violated when the unauthorized use of their material appears on these Web sites, and this reduces their ability to sell CDs and DVDs of this material.
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A situation in which some resources are NOT fully utilized is represented in a production possibilities frontier diagram by
A) any point on either the horizontal or the vertical axis. B) the midpoint of the production possibilities frontier. C) a point outside the production possibilities frontier. D) a point inside the production possibilities frontier.
How does a self-contained unit benefit a firm?
Economic policy tool—contractionary fiscal policy. This is a weapon that can be used against inflation, though it would generally be unwise to use it at times of high unemployment
What will be an ideal response?
Average variable costs:
A. decrease when output declines, and increase when output declines. B. increase when marginal product rises, and decrease when marginal product declines. C. decrease when marginal product rises, and increase when marginal product declines. D. increase when output declines, and decrease when output rises.