When a single individual performs all the steps involved in the production process he/she incurs:
a. the costs of labor division.
b. the costs of being a generalist.
c. the cost of specialization.
d. the costs of over-utilization of resources.
B
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Retained earnings are corporate earnings that are paid as dividends to stockholders
Indicate whether the statement is true or false
Three possibilities are equally likely and have payoffs of $3, $6, and $9 . The expected value is:
a. $4 b. $5 c. $6 d. $7
Evaluating tort law solely from the standard of economic efficiency,
a. tort law fails at spreading the risk. b. tort law deters specific behavior c. tort law punishes bad behavior. d. none of these is correct
Other things the same, which of the following would both make foreigners more willing to engage in U.S. portfolio investment?
a. U.S. interest rates rise, the default risk of U.S. assets rise b. U.S. interest rates rise, the default risk of U.S. assets fall c. U.S. interest rates fall, the default risk of U.S. assets rise d. U.S. interest rates fall, the default risk of U.S. assets fall