Price ceilings set a legal maximum price on a product or commodity
a. True
b. False
Indicate whether the statement is true or false
True
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The concept that Mr. Jones is going to enjoy the benefits of police protection even though he no longer pays taxes is called
A) the free-rider problem. B) the negative externality principle. C) the principle of rival consumption. D) the principle of anti-trust.
Taxes are the difference between
a. GDP and net exports. b. GDP and consumer spending. c. Consumer spending and saving. d. GDP and disposable income.
Consider a two-country, two-commodity model. The table below shows the units of Good X and Good Y produced in Country A and Country B per labor hour. The number of labor hours required to produce one unit of Good X in Country A is ProductivityCountry ACountry BGood X1.000.50Good Y0.200.70
A. 1. B. 0.5. C. 2. D. 1.43.
To reduce the principal-agent problem,
A) managers can take on more risk than they disclose to investors. B) managers can inflate profits on financial statements. C) boards-of-directors can tie the salaries of top management to the profitability of the firm. D) managers can hide liabilities by not disclosing them on financial statements.