Over time, people in the United States and other high-income countries have, on average, become taller, which is an indication that their nutritional status has improved
Indicate whether the statement is true or false
TRUE
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Which of the following statements does NOT correctly characterize normal profit?
A) It is part of a firm's opportunity cost. B) It is equal to a firm's total revenue minus its opportunity cost. C) It is the average return for supplying entrepreneurial ability. D) None of the above because all the statements correctly characterize normal profit.
If the marginal social benefit of pizza exceeds the marginal social cost of pizza, the economy is producing the efficient quantity of pizza
Indicate whether the statement is true or false
A tax imposed on buyers raises the price of the good more than would the same tax if it was imposed on sellers
Indicate whether the statement is true or false
The fundamental reason firms outsource is that:
A. hiring low-wage workers overseas reduces firms' costs. B. outsourcing increases employment overseas. C. U.S. workers cannot perform the tasks performed by workers in other countries. D. low-wage workers in other countries are more productive than are U.S. workers.