Screening refers to
a. private schools selecting only the students who are easiest to teach
b. employers requiring a high-school diploma as a way of rejecting unqualified applicants
c. governments deciding who should receive health care
d. universities using standardized testing to decide who should enter
e. none of the above
B
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Which of the following statements about the characteristics of debt and equity is FALSE?
A) They can both be long-term financial instruments. B) They can both be short-term financial instruments. C) They both involve a claim on the issuer's income. D) They both enable a corporation to raise funds.
Alex received a four-year scholarship to State U. that covered tuition and fees, room and board, and books and supplies. If Alex becomes a full-time student, then:
A. the opportunity cost of attending State U. includes the sum of the benefits Alex would had from attending each of the other schools to which he was admitted. B. Alex has no incentive to study hard while at State U. C. the opportunity cost of attending State U. includes the money Alex could have earned working for four years. D. attending State U. for four years is costless for Alex.
The average annual growth rates of labor productivity from 1947 to 1973 were ________ the average rates over the period from 1973 to 1995.
A. more rapid than B. more rapid in the U.S., but slower in other industrialized countries than C. slower than D. about the same as
A firm could continue to operate for years without ever earning a profit as long as it is producing an output where
A) MR < ATC. B) ATC > AVC. C) MR > AVC. D) AFC < AVC.