Specialization of productive activity between men and women might explain why
A) a married woman earns less than a married man.
B) a never-married man earns more than a never-married woman.
C) a never-married man earns the same as a married man.
D) None of the above answers is correct.
A
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Which of the following is a difference between corporations and partnerships?
a. Partnerships are subject to double taxation; corporations are not. b. With partnerships, ownership rights are divisible and easily transferable; this is not true for corporations. c. Corporate owners face limited liability; owners of partnerships do not. d. Corporations always have more owners than partnerships.
Import duties ranging from 28 percent to 113 percent on Chinese frozen and canned shrimp are an example of a policy that:
A. protects domestic producers from foreign producers. B. uses regulations and taxes to protect domestic consumers. C. protects domestic fisheries from overfishing. D. protects domestic consumers from foreign producers.
Moving downward on a downward sloping linear demand curve, the absolute value of the price elasticity of demand
A. is constant. B. decreases continuously. C. may either increase or decrease. D. increases continuously.
Economic efficiency is achieved when there is a market outcome in which the marginal benefit to consumers of the last unit produced is equal to its marginal cost of production and
A) economic surplus plus consumer surplus equals producer surplus. B) consumer surplus plus producer surplus is maximized. C) economic surplus is minimized. D) the difference between consumer surplus and producer surplus is maximized.