Which of the following is an example of labor income?
A) Dividend received by shareholder B) Profit earned by an entrepreneur
C) Rent paid to a landlord D) Bonus paid to a worker
D
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Which of the following statements is an accurate description of the Revolution?
a. It never had majority support. b. Two-thirds of the population either opposed it or did nothing to support it. c. It became a popular war, maintaining widespread popular support after 1776. d. Both a and b are correct. e. None of the above are correct.
The marginal revenue product schedule for land refers to
A. a firm's demand for land. B. the final demand for land. C. the final supply of land. D. the firm's supply of land.
Full employment is the situation in which the economy operates at an unemployment rate equal to the sum of:
A. structural and frictional unemployment. B. cyclical and frictional unemployment. C. structural and cyclical unemployment. D. structural, frictional, and cyclical unemployment.
International price discrimination for a good is possible if
A) goods are sold through the gray market. B) the price difference between two countries is greater than the transaction costs in arbitrage. C) the price difference between two countries is less than the transaction costs in arbitrage. D) None of the above.