There are _______ family farms today than at any previous time in the United States' history.
A. more
B. fewer
C. about the same number of
B. fewer
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If two events are positively correlated but NOT perfectly correlated, then
A) diversification is not necessary since there is no risk. B) diversification eliminates all risk. C) diversification does not reduce risk at all. D) diversification can reduce risk.
A production function measures how an individual maximizes utility
a. a firm transforms output into input. b. a firm transforms inputs into output. c. d. a firm minimizes cost.
Jason is a salesman who gets 40 percent of the revenue he generates for his company. This is an example of payment by _____
a. piece rent b. fixed salary c. executive compensation d. share contract
A value of zero for the elasticity of supply of some product implies that
A) the supply curve is horizontal. B) supply is highly responsive to price. C) the product will not be supplied at any price. D) there is no supply. E) the supply curve is vertical.