Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks SoldLarry105Joe99Ralph312Based on last month's data, ________ should specialize in truck sales, and ________ should specialize in car sales.
A. Larry; Ralph
B. Joe; Ralph
C. Ralph; Larry
D. Larry; Joe
Answer: C
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The above figure illustrates a firm's total revenue and total cost curves. Which one of the following statements is FALSE?
A) Economic profit is the vertical distance between the total revenue curve and the total cost curve. B) At output Q1 the firm makes zero economic profit. C) At an output above Q3 the firm incurs an economic loss. D) At output Q2 the firm incurs an economic loss.
Which writer held the view that by showering so much money on the poor, the government robbed them of their incentive to work?
A. Barbara Ehrenreich B. Frances Fox Piven C. Charley Murray D. William Julius Wilson
Which of the following portfolio allocation decisions represents the best individual response to an increase in the interest rate on nonmonetary assets?
A. Sell some stocks and use the money to buy bonds. B. Sell some bonds and use the money to buy stocks. C. Sell some nonmonetary assets to get cash. D. Buy some nonmonetary assets with cash.
Which description of capitalism was coined by Karl Marx?
A. The capitalist is led by an invisible hand to promote an end which was no part of his intention. B. By pursing his own interest he frequently promotes that of the society more effectively than when he really intends to promote it. C. The factory owner, by paying his workers meager wages, is able to use this surplus to buy more capital goods. D. None of these statements were coined by Karl Marx.