Why do firms engage in the activity of production?
A. to develop a supply schedule
B. to participate in the circular flow
C. to acquire profits
D. to help society advance technologically
Answer: C
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In a labor negotiation, a mediator
a. represents the union rank-and-file members b. represents the management side c. is an impartial observer d. can call a strike e. can force both sides to agree to a contract
Privatization requires
a. transparency b. the training of competent managers c. the installation of adequate facilities for transportation d. All of the answers are correct e. None of the answers is correct
Which of the following is not held constant along a given supply curve for a good?
A. Taxes. B. The cost of factors of production. C. Technology. D. Price.
) If consumption expenditures for a household increase from $1000 to $1800 when disposable income rises from $1000 to $2000, the marginal propensity to consume is
What will be an ideal response?