Time clocks are typically a solution to the:
A. manager-owner, principal-agent problem.
B. consumer-worker, principal-agent problem.
C. manager-consumer, principal-agent problem.
D. None of the statements is correct.
Answer: D
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Producers of goods and services suffered during the American War in which of the following sectors?
(a) Fishing, whaling, and shipping (b) Exports and imports (c) Manufacturing and agriculture (d) All of the above
Suppose the price of a product is less than its average variable cost. When the firm's fixed obligations are completely ended, it will now most likely:
a. make an economic profit. b. go out of business. c. expand to a bigger operation. d. continue to be shut down. e. break even.
Exhibit 6-2 Refer to Exhibit 6-2. How many persons are not participating in the labor force in year 2?
a. 200 million b. 50 million c. 75 million d. 175 million e. 100 million
If aggregate demand shifts right and the President and Congress want to use fiscal policy to reverse the change in output, they could
a. increase government expenditures. If by the time policy has been implemented the economy has moved back to long-run equilibrium, then this policy will raise output above its long-run level. b. increase government expenditures. If by the time policy has been implemented the economy has moved back to long-run equilibrium, then this policy will reduce output to below its long-run level. c. decrease government expenditures. If by the time policy has been implemented the economy has moved back to long-run equilibrium, then this policy will raise output above its long-run level. d. decrease government expenditures. If by the time policy has been implemented the economy has moved back to long-run equilibrium, then this policy will reduce output to below its long-run level.