The amount of calendar time associated with the long run:
A. is less than that associated with the immediate market period.
B. varies from industry to industry.
C. is the same for all firms.
D. is, by definition, any length of time greater than one year.
Answer: B
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Author A accepts a $5,000 advance from a publisher and a 10% royalty after 5,000 books are sold. Author B foregoes the publisher's advance and negotiates for a 15% royalty on all books sold
Author C decides to self-publish his book and keep 100% of all sales revenue. In what order of risk aversion (from most to least) would you rank these authors? A) Author A, Author B, Author C B) Author A, Author C, Author B C) Author B, Author A, Author C D) Author C, Author B, Author A
Which of the following statements accurately characterizes pre-1820 wages?
a. Skilled workers in England received higher wages than U.S. skilled workers. b. The wage premiums paid to skilled workers in the U.S. were typically greater than those paid in England. c. Early immigration of primarily skilled workers tended to reduce the wages of skilled labor in the U.S. d. The pull on unskilled labor to enter agricultural pursuits led to lower wages for unskilled workers in the manufacturing sector.
In 2003, the largest component of U.S. national income was
a. compensation of employees b. rental income c. proprietor's income d. farm income e. corporate profit
The slope of a line passing through the points (15, 3) and (10, 6) is
a. -3/5. b. 3/5. c. -5/3. d. 5/3.