As capital goods depreciate, the growth of labor productivity will increase
a. True
b. False
Indicate whether the statement is true or false
False
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Holding everything else constant, the demand for a good tends to be more elastic
A) the more substitutes there are for the good. B) the less important the product is in consumers' budgets. C) the shorter the time period involved. D) the more consumers perceive the good to be a necessity.
A major advantage to owners of preferred stock over common stock is that owners of preferred stock have voting rights
Indicate whether the statement is true or false
Suppose the supply of chocolate chips in Paulina is perfectly elastic and the government imposes a tax on the sellers. Which of the following is most likely to be true? a. The deadweight loss of the tax equals zero
b. The supply curve is a vertical line. c. The elasticity of supply equals zero. d. The tax burden is shared equally between the buyers and the sellers.
In general, people are willing to pay more than the expected value of insurance because:
A. most people would have trouble finding enough money to cover their losses. B. they are risk-averse. C. it allows them to afford major expenses from catastrophes without going bankrupt. D. All of these statements are true.