Referring to Situation #1 suppose that you can now hire two workers. What is the opportunity cost of the second executive's work from the viewpoint of the company? Explain
What will be an ideal response?
The second executive's work is simply the value of the next best opportunity which is the work that could have been done by the third executive which is $500,000
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The current deficit is
A) the deficit minus government investment. B) the deficit plus net interest payments. C) the deficit minus current expenditures. D) the deficit minus depreciation.
One lesson of business: a. is tracing the consequences of a policy
b. promoting a policy change to eradicate inefficiencies. c. moving assets from lower to higher value uses, thereby creating wealth. d. None of the above
The market system has provided great advances in invention, innovation, and economic growth.
Answer the following statement true (T) or false (F)
Supply-side policy suggests that if we _______ taxes of workers, the _________ labor will increase, causing equilibrium wages to ________.
A. raise, supply of, decrease B. cut, supply of, increase C. raise, demand for, increase D. cut, supply of, decrease