Sometimes the only information that is available with the employers when they hire someone is information that may be imperfectly related to productivity in general and may not apply to a particular person at all
a. True
b. False
Indicate whether the statement is true or false
True
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An editorial in a newspaper calling for the government to abolish the minimum wage because it takes advantage of consumers is an example of a(n)
a. positive economic statement. b. pure economic statement. c. normative economic statement. d. abstract economic statement.
Exhibit 2-13 Production possibilities curve
In Exhibit 2-13, in terms of efficiency:
A. point A is preferred to point B. B. point A is preferred to point E. C. point A is preferred to point D. D. point B is preferred to point A.
Suppose that a firm's legal staff concludes that a new production process that the firm is developing is patentable. Graphically, this new information would shift the firm's expected-rate- of-return curve on R&D to the:
A. right and reduce its optimal amount of R&D. B. right and increase its optimal amount of R&D. C. left and increase its optimal amount of R&D. D. left and reduce its optimal amount of R&D.
Comment on the following statement. "Taxing externality-producing activities may not eliminate damages."
What will be an ideal response?