If a person gives a gift to another person, an economist would say that it is because
A) the marginal benefit of giving the gift is at least as great as the marginal cost of giving the gift.
B) the marginal cost of giving the gift is at least as great as the marginal benefit of giving the gift.
C) he expects to receive a gift in return.
D) none of the above
A
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After the former CEO of the Coca-Cola Company began requiring employees to treat the rate of return on shareholder equity as an explicit cost, Coke's profits increased considerably
Indicate whether the statement is true or false
Darryl graduated with honors from college. However, he obtained his outstanding grades by cheating on every final exam with help from his best friend; Darryl actually has the talent of a C student. Nevertheless, he gets a job with a top accounting firm in Boston. The fact that he is hired illustrates a failure of
a. comparable worth b. signaling and screening c. marginal productivity d. supply and demand e. specialization
Which of the following is the official policy-making body of the Federal Reserve System?
a. Federal Advisory Council b. The U.S. Treasury c. The Federal Open Market Committee d. The Board of Governors e. The Federal Reserve district banks
Which of the following is true?
a. Poor countries are unable to ignite the growth process unless they receive financial aid from richer countries. b. Countries that fail to adopt institutions and policies supportive of trade, entrepreneurial discovery, and private investment will remain poor in the foreseeable future. c. Countries that lack an abundance of natural resources have been unable to grow and achieve high income levels. d. Countries with a large population relative to their land area are destined to remain poor.