In the U.S. economy, the quantity of donuts produced each day is determined by the
A) U.S. Food and Drug Administration.
B) U.S. Department of Health and Human Services.
C) Donut Association of America.
D) individual decisions of thousands of donut makers.
D
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One of the most important changes in the composition of the labor force in the United States has been
A. the major increase in the number of workers who work full-time out of their own homes. B. the drop in the number of men who only work part-time. C. the pattern of increase in the number of women in the labor force. D. the increase in the ratio of male workers to female workers. E. the major increase in the number of men who work in other countries.
In a store that sells souvenirs, suppose an agent receives a $1 commission for each unit sold, and the principal receives the residual profit. As a result,
A) joint profit is maximized. B) the agent will sell until the principal's marginal cost equals $1. C) no agent would enter into such a contract. D) the agent wishes to sell as many units as he can.
The costs of inflation are a. shoeleather costs and menu costs
b. arbitrary redistributions of wealth. c. increased variability of relative prices. d. All of the above.
The theory of purchasing-power parity implies that the demand curve for foreign-currency exchange is
a. downward sloping. b. upward sloping. c. horizontal. d. vertical.