The sheer number of corporations vastly outnumbers proprietorships in the United States
Indicate whether the statement is true or false
F
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In the presence of compensating wage differentials, explain why the consumption possibility frontier is not a good approximation of the utility possibility frontier.
What will be an ideal response?
A country that borrows more from the rest of the world than it lends to it in a year is called a ________, and a country that lends more to the rest of the world than it borrows from it in a year is called a ________
A) borrower; lender B) importer; exporter C) net borrower; net lender D) gross borrower; gross lender
Suppose the demand curve for corn is inelastic between the current price and price that exists after the supply of corn falls. It follows that
A) fewer farmers are producing corn at the new price than at the old price. B) the total revenue for corn is lower at the new price than at the old price. C) the total revenue for corn is higher at the new price than at the old price. D) more farmers are producing corn at the new price than at the old price. E) a and c
Consider an output beyond the minimum point of a firm's short run average total cost curve. At this level of output the firm can use its ________ input at a lower average cost but only by using its ________ input at a higher average cost.
A. variable capital; fixed labor B. fixed capital; variable labor C. variable labor; fixed capital D. fixed labor; variable capital