Use the following graph to answer the question below.
If the price is P3, then the total revenue is represented by area
A. E + F + G.
B. B + C + D + E + F + G.
C. B + C + D.
D. A + B + C + D + E + F + G.
Answer: B
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The manager of a U.S. office building hires a local company owned by a recent Canadian immigrant to handle landscape maintenance. This is a form of
A) domestic outsourcing. B) vertical integration. C) international outsourcing. D) insourcing.
One of the factors that causes differences in inequality across countries is:
A. the extent to which governments redistribute income through the public budget. B. the amount of jobs that are available in the country. C. the labor force participation rate within countries. D. how many income earners there are relative to total population.
If the government were to impose a fine of $4,000 for each unit of air-pollution released by a fertilizer plant, the policy would be considered
a. a subsidy. b. a regulation. c. a corrective tax. d. an application of the Coase theorem.
The reason that all-you-can-eat restaurants can make a profit is due to
A. the law of increasing relative costs. B. the law of demand. C. the law of diminishing marginal returns. D. the law of diminishing marginal utility.