Assuming Vice President Smith has to sacrifice more than his assistant in order to engage in full-time typing, we would say that his assistant has a(n) ________ advantage in typing versus Mr. Smith
A) absolute
B) comparative
C) pecuniary
D) overwhelming
B
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Which of the following statements is true?
A) A direct relationship has a negative slope value. B) A straight line has a slope of one. C) A curved line has slope values that change at every point. D) An inverse relationship has a positive slope value.
Suppose a firm wants to build a new factory that would add pollution to an already polluted area. Under an offset program, the firm must:
a. install scrubbers and other government-mandated equipment. b. purchase pollution permits from the government. c. reduce or eliminate an old pollution source in the area. d. pay a tax which depends on the amount of pollution created.
Small differences in economic growth rates can eventually produce large differences in living standards because of compounding.
Answer the following statement true (T) or false (F)
One reason stagflation is difficult to recover from is because:
A. less output requires less inputs to be hired. B. prices tend to adjust more quickly downward than upward. C. wages are sticky downward. D. input prices increase with output prices.