Important sources of conflict in colonial America include conflicts between all of the following except
(a) Slaves and masters
(b) Native Americans and colonists
(c) Puritans, Roman Catholics, and Protestants
(d) Indentured servants and masters
(d)
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How is a firm's labor demand curve affected when the price of its product rises?
What will be an ideal response?
Which of the following is NOT a step involved in using checks?
A) The recipient must take the check to the bank. B) The bank must present the check to the checkwriter's bank. C) The funds must be transferred from the checkwriter's bank to the recipient's bank. D) The funds must be transferred from the recipient's bank to the checkwriter's bank.
Equity and efficiency _____. Thus, _____
a. are always consistent with each other; trade-offs between the two are necessary b. are never consistent with each other; trade-offs between the two are unnecessary c. might be consistent in certain situations; trade-offs between the two might be necessary d. might be consistent in certain situations, trade-offs between cannot be made
A custom paper company finds that when the price of paper is $5, its total revenues are $60,000 . Its total costs are $70,000 . of which $57,000 are variable costs. From this we can infer
a. the firm sells 14,000 units of paper b. economic profit is $10,000 c. the firm should shut down in the short run d. total fixed costs are $3,000 e. price is greater than average variable cost