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1. Which of the following is a positive economic? statement?
A. Unemployment is a more serious problem than inflation.
B. No individual should live in poverty.
C. The rate of unemployment of young? African-Americans exceeds that of white Americans.
D. Economic considerations are less relevant than ethical issues in deciding national policy.
2. Suppose the U.S. government encouraged consumers to trade in their old automobiles for more? efficient, new models by paying up to? $5,000 for the old automobiles. These consumers would be exemplifying the economic idea that
A. people are rational.
B. people respond to economic incentives.
C. optimal decisions are made at the margin.
D. equity is more important than efficiency.
As distinguished from sole proprietorships and partnerships, why is the corporation type of legal organization so valuable to a firm? Is the corporation type of legal form a right or is it a privilege?
The annual operating costs increase by 15% each year as the machines age. If the interest rate is 8%, what is the net present cost for the Quik-Skwish machine?
The following events have their initial impact on which of the following: aggregate demand, short-run aggregate supply, long-run aggregate supply, or both short-run and long-run aggregate supply? Do the curves shift to the right or left?
Why would elasticity of demand be important to you in determining the products on which the taxes should be levied".
Wheat farmers will receive total revenues from consumers and the government totaling
BUECO5903 BUSINESS ECONOMICS Explain why some people 'lose' from inflation and why do some people 'win' from inflation and how did the classical economists interpret long-run unemployment?
Congressional campaign expenditures for the U.S. House of Representatives in 1988. For each of the 173 two-party races we know the percentage of votes received by candidate A (voteA), the logarithm of campaign expenditures (in thousands of US dollars..
Suppose the firms in a monopolistically competitive market are earning positive economic profits. What will happen to move the market to its long-run equilibrium?
Apple decides to reallocate resources by curtailing online ad budgets and investing heavily in scratch-resistant Sapphire, the material that differentiates iPhone from competitive brands. What is MOST LIKELY the reason for reallocation of resources?
A bulldozer can be purchased for $380,000 and used for 6 years, when its salvage value is 15% of the first cost. Alternatively, it can be leased for $60,000 a year. Remember that lease payments occur at the start of the year. The firm's interest rate..
When economists speak of "marginal," they mean. Managers undertake an investment only if. Total costs increase from $1,500 to $1,800 when a firm increases output from 40 to 50 units. Which of the following is true if marginal cost is constant?
The market for health insurance is characterized by asymmetric information because:
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