Independent workers using specialized capital save the costs of contracting but risk:
a. generalization.
b. opportunism.
c. inefficiency.
d. over-utilization.
B
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Suppose a new cost-saving device will generate $1,000 net savings per year to a firm. The device costs $10,000. Should the firm purchase the device?
A) Definitely. B) Absolutely not. C) The firm is indifferent between buying the device and not. D) More information is required to answer.
Fiscal stimulus is most likely to direct resources into productive projects when spending decisions are left in the hands of
a. government agencies. b. consumers. c. Congress. d. lobbyists and special-interest groups.
Marginal benefits are downward sloping when
A. there are no total benefits. B. the slope of the marginal benefits curve is negative. C. total benefits are increasing at a decreasing rate. D. marginal costs are upward sloping.
Western European workers get about ____ weeks vacation time; American workers get about ____ weeks vacation time.
Fill in the blank(s) with the appropriate word(s).