Which of the following involves the LEAST risk from the point of view of the employee?
A. Profit sharing
B. Piece rate
C. Revenue sharing
D. Annual salary
Answer: D
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Private savings is defined as:
a. Y + TR - C - T b. T - G - TR c. Y + TR + C - T d. T + G + TR
Other things being equal, the effect of a decrease in the price of DVDs on the market for DVD players is a(n):
A. leftward shift in the demand curve for DVD players. B. upward movement along the demand curve for DVD players. C. rightward shift in the demand curve for DVD players. D. downward movement along the demand curve for DVD players.
Holding all else constant, higher prices will:
A. decrease the Lerner index. B. increase or decrease the Lerner index depending on the relative magnitude of the price increase. C. increase the Lerner index. D. have no impact on the Lerner index.
Suppose that in an hour you can either make 20 tortillas or word-process 5 pages of text, while in an hour your roommate can either make 15 tortillas or word-process 15 pages of text. Which of the following is correct?
a. Your comparative advantage is in making tortillas. b. Your roommate's comparative advantage is making tortillas. c. Your roommate has an absolute advantage in both tasks. d. You have an absolute advantage in both tasks.