Since the 1930s, overall tariff rates in the United States have
A) increased.
B) decreased.
C) remained unchanged.
D) become very unstable, changing week to week.
Answer: B
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Under what conditions would a nation be able to currently produce more of both consumer and capital products?
How has the widespread availability of news on the web, which decreased the demand for newspaper workers, affected the wages of the works?
A. Wages decreased. B. Wages stayed the same. C. Wages increased. D. Wages are not affected by this.
Suppose a firm uses land, labor, and capital for its production process. If it is renting the equilibrium quantity of all three factors of production, then which of the following conditions will hold?
A) Marginal product from the last dollar spent on land = Marginal product from last dollar spent on labor > Marginal product from the last dollar spent on capital B) Marginal product from the last dollar spent on land > Marginal product from last dollar spent on labor > Marginal product from the last dollar spent on capital C) Marginal product from the last dollar spent on land > Marginal product from last dollar spent on labor = Marginal product from the last dollar spent on capital D) Marginal product from the last dollar spent on land = Marginal product from last dollar spent on labor = Marginal product from the last dollar spent on capital
When a business is set up as a sole proprietorship, the owner of the business faces limited liability
Indicate whether the statement is true or false