In the above figure, which of the following points indicates the efficient use of resources?
A. a
B. f
C. h
D. g
Answer: A
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Only corporations benefit from limited liability
Indicate whether the statement is true or false
Economists who attempt to explain the increasing earnings gap between skilled and unskilled workers offer two main hypotheses:
a. one hypothesis emphasizes education, and the other emphasizes compensating differentials. b. one hypothesis emphasizes education, and the other international trade. c. one hypothesis emphasizes international trade, and the other emphasizes technology. d. one hypothesis emphasizes technology, and the other emphasizes compensating differentials.
Critics of the tax cut of 2001 made all of the following arguments EXCEPT
A. It would push up the federal budget deficit. B. Most of the benefits would go to the rich. C. The last time massive tax cuts were enacted in the 1980s, budget deficits increased dramatically. D. The tax cut will discourage people from working.
Buyers scrambled to secure stocks of Australian wool following a forecast of an 11 percent decline in wool production. What happens in the Australian wool market as a result of this announcement?
A) The demand curve for Australian wool shifts to the left in anticipation of higher prices in the future. B) The demand curve for Australian wool shifts to the right in anticipation of higher prices in the future. C) The quantity of Australian wool demanded increases in anticipation of higher prices in the future. D) The quantity of Australian wool demanded decreases in anticipation of lower quantities in the future.