In case of ________ labor markets, a few key people critical to the overall success of an enterprise are richly rewarded
a. risk prone
b. winner-take-all
c. unorganized
d. unionized
b
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Jenny likes chocolates. One day, a friend offers her a chocolate bar and she is extremely happy on receiving it. As the day progresses, many other people also buy her chocolate
As she gets more and more chocolates, her excitement on receiving each bar is seen to gradually lessen. Which economic principle is reflected in this example? A) The Law of Increasing Willingness to Pay B) Aggregation of demand behavior C) The Law of Diminishing Marginal Benefit D) The Law of Equi-Marginal Utility
Limit pricing occurs when a firm sets price _________________.
An increase in the U.S. interest rate will most likely
A) reduce the attractiveness of investment in the United States. B) lead to a decrease in the value of the U.S. dollar. C) lead to an inflow of funds to the United States and an appreciation of the dollar. D) provide a stimulus to U.S. export industries.
Which of the following is an example of a positive statement?
a. Workers with families should be paid at least the minimum wage. b. If crime rates were reduced, the world would be a better place in which to live. c. Marginal tax rates should be reduced for individuals in the highest tax brackets. d. An increase in the price of gasoline will cause a reduction in the amount purchased. e. Corrupt politicians ought to be voted out of office.