What economic concept is exemplified by an employer offering tuition reimbursement to employees who are continuing their education?
a. marginal benefit
b. marginal cost
c. positive incentive
d. negative incentive
c. positive incentive
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What is capital income?
What will be an ideal response?
In the long run when a perfectly competitive firm experiences negative economic profits
A) the high barriers to entry prevent further competition. B) existing firms exit the industry. C) additional firms enter the industry. D) firms have no incentive to exit or enter the industry.
The union participation rate in the United States is
a. lowest among service workers in the private sector b. highest among service workers in the private sector c. lowest among service workers in the public sector d. highest in heavy industry e. highest in high-technology industries
Individual transferable quotas (ITQs) have been shown to
a. increase the value of fisheries but reduce the safety of fishers as the season is shortened. b. end overfishing by making the use of efficient technology illegal. c. increase the safety of fishing but not the value to consumers of the product. d. increase the value to consumers of the product and raise the price received by fishers.