If Dell, a computer company, is determining whether to build a new plant in Texas or in New Mexico, it is making a(n) ________ decision.
A. short-run
B. immediate-run
C. long-run
D. variable-input
Answer: C
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Adverse selection:
A. results from unobserved characteristics of people or commodities. B. is about the actions of people. C. occurs after the parties have entered into an agreement. D. All of these statements are true.
A business owner makes 100 . items a day. Each day he/she contributes 8 hours to produce those items. If hired, elsewhere he/she could have earned $250 an hour. The item sells for $15 each. Production does not stop during weekends. If the explicit costs total $150,00 . for 30 days, the firm's accounting profit for the month equals:
a. $300,000 b. $60,000 c. $450,000 d. $240,000
Refer to Labor Force Statistics by Age. In the proper order, which age group has the highest unemployment rate and which has the highest participation rate?
Labor Force Statistics by Age. Suppose people in the adult population in a small country are classified based on their age. Labor Force Status less then 55 55 and older Number employed 400,000 100,000 Number unemployed 25,000 7,000 Number in Population 600,000 200,000 A) under 55, under 55 B) under 55, 55 and older C) 55 and older, under 55 D) 55 and older, 55 and older
Business fluctuations in the United States are
A. predictable. B. smooth and steady. C. controllable. D. irregular and unpredictable.