A quota limits:
A. Imports and allows domestic producers to raise the price.
B. Domestic output and allows import producers to raise the price.
C. Imports and reduces the domestic price.
D. Domestic output and reduces the domestic price.
A. Imports and allows domestic producers to raise the price.
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Pietro is a manager at a carwash. He has hired 10 workers to wash and detail cars for him and is considering what type of payment scheme he should set up for his workers
He can pay each of his workers $9 per hour to wash and detail cars, or he can pay his workers $12 for each car a worker washes and details. (It takes 75 minutes, on average, for an employee to wash and detail a car.) If Pietro wants to maximize the number of cars his workers wash and detail in one day, which payment scheme should he use? Explain.
Both the social sciences and the natural sciences employ ________ to help them understand the world around them
A) models B) designs C) traditional thinking D) implications
Which of the following statements about "inside information" is FALSE?
A) It is information that is not available to the general public. B) It is illegal to knowingly use inside information when trading stocks. C) Profits can be made using inside information. D) The government never imposes fines or other penalties for abuse of inside information.
A surplus of a good could possibly be eliminated by:
A. a sufficient increase in supply keeping price constant. B. the removal of a price floor. C. the removal of a price ceiling. D. a sufficient decrease in demand keeping price constant.