Which law serves as the basis for most equal employment opportunity laws?
A) Title IX of the Education Amendments of 1972
B) Title VII of the 1964 Civil Rights Act
C) Federal Affirmative Action Act
D) Title IV of the Higher Education Act
B) Title VII of the 1964 Civil Rights Act
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The U-shape of the average variable, average total, and marginal cost curves reflects
A) increasing marginal returns. B) decreasing marginal returns. C) both increasing and decreasing marginal returns. D) decreasing marginal product. E) the point that implicit costs become a smaller fraction of total cost as output increases.
In the production possibilities frontier depicted in the figure above, what is the opportunity cost of increasing the production of bananas from two million pounds to three million pounds?
A) 1/2 hat per pound of bananas B) 1 hat per pound of bananas C) 2 hats per pound of bananas D) 3 hats per pound of bananas
In the case in Scenario 18.1, the Coase theorem specifies that
A) the result will be different if the fishermen are given the right to clean water than it will be if the factory is given the right to use the water as it sees fit, but the result will be inefficient in either case. B) the efficient result will occur whether the fishermen are given the right to clean water or the factory is given the right to use the water as it sees fit. C) economic efficiency requires that the fishermen be given the right to clean water. D) economic efficiency requires that no one may contaminate the water. E) economic efficiency requires that the fishermen be given the right to clean water and that the factory be given the right to use the water as it sees fit.
Disposable income is not:
A. total income minus taxes. B. what consumers base their buying decisions on. C. the amount consumers have to spend on goods and services. D. income before tax.