Costs that are not obvious at the start of a project are
a. variable costs
b. semivariable costs
c. fixed costs
d. indirect costs
e. hidden costs
e. hidden costs
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Which of the following statements is true when wages are above the market clearing wage?
A) The larger the gap between the current market wage and the market clearing wage, greater will be the amount of unemployment. B) At wage rates above the market clearing wage rate, there is an excess demand for workers. C) At wage rates below the market clearing wage rate, there is an excess supply of workers. D) The larger the gap between the current market wage and the market clearing wage, smaller will be the amount of unemployment.
The most important source of financial capital for firms today is
A) sale of bonds. B) sale of new issues of stock. C) trade of previously issued stock. D) reinvestment of profits.
_____ is the lack of satisfaction yielded after consuming too much of the same product
a. Ordinal utility b. Disutility c. Total utility d. Marginal utility e. Cardinal utility
In the presence of a negative externality
a. the market solution is efficient, but the market price is too high b. the market price is efficient, but the corresponding quantity is inefficient c. the market solution results in too little output being produced d. the efficient outcome is determined where the marginal social cost and market demand curves intersect e. the efficient outcome is determined where the marginal cost and market supply curves intersect