Higher rates of saving today contribute to ________ in the future.
A. more unemployment
B. more capital gains
C. higher tax rates
D. a higher standard of living
Answer: D
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Refer to Figure 11-13. The lines shown in the diagram are isocost lines. If the price of labor is $50 per unit, then along the isocost AF, the total cost
A) is $500. B) is $750. C) is $1,250. D) cannot be determined without the price of capital.
Which of the following statements is correct?
a. Marginal social cost is the share of marginal cost caused by an activity that is paid for by the persons who carry out the activity. b. Marginal private cost is the share of marginal cost caused by an activity that is borne by persons other than those who carry out the activity. c. Marginal social cost is the sum of marginal private cost and incidental cost. d. Marginal private cost and incidental cost are one and the same.
Because of the owner's prejudice, a firm chooses to discriminate against hiring Oriental workers. Compared to an otherwise identical nondiscriminating firm hiring in the same competitive market, the discriminating firm will have
a. higher costs. b. lower profits. c. a lower quantity of labor supplied at every wage. d. All of the above are correct.
A reason why rogue traders have bankrupt their banks is due to
A) the separation of trading activities from the bookkeepers. B) stringent supervision of trading activities by bank management. C) accounting errors. D) a failure to maintain proper internal controls.