The first automobile manufacturer to use a division of labor and to use a moving assembly line was
A. Henry Ford.
B. Henry Leland.
C. Henry Olds.
D. Andrew Carnegie.
A. Henry Ford.
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The general public disapproved of key features of the 1996 welfare legislation
Indicate whether the statement is true or false
In the short run, a perfectly competitive firm will shut down if
a. its total costs exceed its revenues. b. its total variable costs exceed its revenues. c. its total fixed costs exceed its revenues. d. it can't earn a positive economic profit.
For long-run equilibrium in perfect competition, the equilibrium output occurs at the lowest point on the ATC curve. Why does this happen?
a. Firms use the inputs that minimize the average total cost. b. Firms use the inputs that maximize the average total cost. c. Firms produce the output that minimizes the average total cost. d. Firms produce the output that maximizes the average total cost.
There is a bill pending before the Kansas State Legislature that would prohibit private companies from selling health insurance and would make the state the single payer of health care bills. Private health insurance companies that have made above normal profits have spent large sums of money trying to ________. This is an example of rent-seeking behavior.
A. prevent this bill from being passed into law B. pass an even more restrictive bill C. get this bill made into law D. fund the state for its single-payer system