Beyond some minimum level of effort, it is usually expected that teamwork will have the impact of ________ relative to individual effort.
A. leaving output the same
B. reducing output
C. increasing output
D. reducing and then increasing the output
Answer: C
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Total revenue is the same for every price-quantity combination along a unit elastic demand curve
a. True b. False
A durable good is expected to last longer than
a. ten years b. twenty years c. one month d. one year e. five years
The Fed is institutionally independent. A major advantage of this is that monetary policy
a. is subject to regular congressional scrutiny. b. will often offset fiscal policy. c. is not controlled by politicians. d. is usually coordinated with fiscal policy.
U.S. firms can produce and sell electric fans for $25. The United States can also import electric fans from China at $40 each and from Canada at $45 each. Electric fans made in the United States, China, and Canada are identical. Currently, the United States imposes a 30% tariff on imported electric fans. From which of the following countries will the United States import fans?
a. China b. Canada c. It will import fans from neither China nor Canada. d. It will import fans from both China and Canada.