Which of the following is not an argument in favor of protecting domestic industries from foreign competition?
A. National security
B. Making domestic firms more efficient
C. Protection against subsidized foreign producers
D. Reducing structural unemployment
Answer: B
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Society as a whole is made worse off by rent seeking behavior by producers
Indicate whether the statement is true or false
Which of the following is associated with macroeconomics?
A. An examination of the incomes of Harvard Business School graduates. B. An empirical investigation of the general price level and unemployment rates since 1990. C. A study of the trend of pecan prices since the Second World War. D. A case study of pricing and production in the textbook industry.
The components of a well-run incentive compensation scheme include all of the following EXCEPT
a. performing random acts of kindness to employees b. avoiding rewards for outcomes that are not included in the performance measures c. rewarding workers who for meet performance measures d. identifying the relevant measures on which to evaluate employees
In situations where businesses discriminate in response to the preferences of consumers, discrimination:
A. is consistent with efficient markets. B. will be eliminated by the market. C. will not persist even though it's what the customers want. D. is not consistent with efficient markets.