For most firms, the biggest cost of doing business is wages
Indicate whether the statement is true or false
TRUE
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A positive technological change will cause the supply of a good to increase
Indicate whether the statement is true or false
A problem with using the price of a product similar to the intermediate good sold on the market is
a. the market price includes a margin above marginal cost b. the product on the market may include costly features your downstream division does not use c. the product on the market may be cheap because it is not as high of quality as your downstream division uses d. all of the above
Which of the following statements is true?
a. Sales, excise, and flat-rate taxes violate the ability-to-pay principle of taxation fairness because each results in a greater burden on the poor than the rich. b. Government failure may occur if voters are rationally ignorant. c. Government failure may occur because of special-interest group political pressure. d. All of these.
Which of the following is true regarding bonds? a. Other things equal, bondholders have greater financial security than stockholders. b. The possibility of a bond's value increasing greatly is limited compared to stocks. c. The legal obligation to bondholders is of higher priority than that of stockholders. d. Higher market interest rates represent a risk to bondholders
e. all of the above