According to the functional distribution of income, in the United States
A) capital earns most of the income.
B) labor earns most of the income.
C) land earns most of the income.
D) entrepreneurs earned most of the income.
E) the income earned by capital and labor are approximately equal.
B
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Jackson buys an automobile insurance policy and then decides to drive recklessly because he knows he is insured in case he has an accident. This describes the problem of
A) adverse selection. B) asymmetric information. C) moral hazard. D) risk pooling.
Economist Milton Friedman's theory of money demand is based on the supposition that money has a very ________ range of substitutes, giving monetary policy a ________ effect on aggregate demand
A) wide, strong B) wide, weak C) narrow, strong D) narrow, weak
Refer to the table below. If this market is a Cournot Oligopoly and Firm X is produces 50 units, what is Firm Y's marginal revenue at a price of $60?
The table above shows the market demand for a product that both Firm X and Firm Y manufacture. Both firms produce an identical product and the firms' average total and marginal cost are equal and constant.
A) $40 B) $60 C) $70 D) $50
If a knowledge worker knows more than has manager it makes
A) sense to have a hierarchy organization. B) sense for the manager to closely monitor the employee. C) sense to promote the employee. D) no sense for the manager to monitor the employee.