If prices are held below the equilibrium price:
A) there exists a surplus in the market.
B) there exists a shortage in the market.
C) social surplus is maximized.
D) all firms earn positive economic profits.
B
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Government purchases are defined as
A) only goods purchased by federal, state, or local governments. B) all goods and services purchased by the federal government. C) all goods and services purchased by the federal or state government. D) all goods and services purchased by the federal, state, or local government. E) goods and services purchased from the government.
In the 2-factor, 2 good Heckscher-Ohlin model, the country with a relative abundance of ________ will have a production possibility frontier that is biased toward production of the ________ good
A) labor; labor intensive B) labor; capital intensive C) land; labor intensive D) land; capital intensive E) capital; land intensive
You've set aside $500 a month to go golfing. If each round costs $55, how many rounds of golf can you play each month?
A. 2 rounds B. 11 rounds C. 10 rounds D. 9 rounds
Which area of risk management seeks to monitor and control potential violations for illegal searches and seizures?
A) workers' compensation B) law enforcement liability C) police auto liability D) sexual harassment