It is possible to purchase diplomas from diploma mills. The situation in which the degrees are more important than the knowledge they are supposed to represent is called:
A. accreditation.
B. credentialism.
C. cretinism.
D. diplomacy.
Answer: B
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Refer to the table below. The marginal benefit of the 6th unit of activity is:Units ofActivity TotalCostTotalBenefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. $7 B. $1 C. $2 D. $4
A factor of production that can be used in any sector of an economy is a(an)
A) mobile factor. B) specific factor. C) variable factor. D) import-competing factor. E) export-competing factor.
A government-imposed restriction on the quantity of a specific good that another country is allowed to sell in the U.S. is
A) a regional trade bloc. B) an import quota. C) a voluntary import expansion. D) a voluntary restraint agreement.
If the profit-maximizing markup factor in a 10-firm Cournot oligopoly is ?2, what is the corresponding market elasticity of demand?
A. ?2.0 B. ?1.2 C. ?1.0 D. None of the statements is correct.