In 2012, China's share of investment spending as a percentage of GDP was ________ Germany's share
A) slightly less than B) roughly equal to
C) less than half of D) more than twice as much as
D
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Mel's House of Cars is an automobile dealership that sells both new and used cars. Two other dealerships located near Mel's pay their salespeople a straight salary - they receive no commission for each car they sell
Mel has decided to pay all of his salespeople a commission on all car sales. Which of the following is most likely to occur as a result of Mel's decision? A) Mel will experience a principal-agent problem. Some of his salespeople will tend to shirk because they will not be paid if they sell no cars, regardless of how hard they work. B) Mel will be able to hire some of the most productive salespeople who work for the other two dealerships. C) Mel risks violation of federal law that regulates firms' compensation policies. D) Mel will have difficulty finding salespeople. Research by labor economists has found that most employees prefer the security of a salary to the uncertainty of being paid based on how much revenue they generate for their employers.
A price-discriminating firm charges the lowest price to the group that
a. has the most elastic demand. b. purchases the largest quantity. c. engages in the most arbitrage. d. is least responsive to price changes.
The federal funds rate is a
A. 1-day rate. B. 30-day rate. C. 3-month rate. D. 2-year rate.
A useful economic model
A. deals only with possibilities that actually occurred. B. makes only realistic assumptions. C. may make some unrealistic assumptions in order to simplify a complex reality. D. will avoid conclusions that have public policy implications, because economists do not make value judgments.