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The category “compensation of employees” doesn't capture the full income of labor because:
a. it doesn't include the earnings of proprietors.
b. it doesn't include benefits such as health insurance.
c. a sizable fraction of it can be attributed to the return on human capital.
d. it excludes payments in kind that are common in rural areas.
In a company that is experiencing economies of scale, which of the following is true?
Laura has an undergraduate degree in economics and has been working as a utility rate analyst at the local electricity utility. If she continues on her present career path, the present value of her lifetime earnings is $250,000. Calculate the discoun..
Suppose that the external damage is MD = 300 + 5Q; MC = 100 + 2Q; MB = D – 2Q where D is unknown. (a) If D = 1000, what would be the optimal quantity? What tax would be necessary on order for that to be the optimal quantity?
The fact that since 1973 blacks have never had a lower unemployment rate than Hispanics, who in turn have never had a lower unemployment rate than whites is evidence of a fairly rigid what?
The Interior Department recently announced that it will increase the entrance fees at Yellowstone National Park in order to increase park revenues. The Interior Department must believe that:
If American cheese also cheddar cheese are substitute afterward which of the following would increase the demand for cheddar cheese.
Consider the market for steel. Suppose that a steel manufacturing plant dumps toxic waste into a nearby river, creating a negative externality for those living downstream from the plant. Producing an additional ton of steel imposes a constant externa..
A small city in Indiana has two residents, who are lucky enough to have a municipal golf course in their city. The marginal benefit of playing a round of golf for the first resident is given by MB1=70-5Q1, and the marginal benefit of playing golf for..
Discuss the current market structure of a business you have worked for or are currently working for. How does the market structure and degree of competitiveness factor into both short-run and long-run decisions. What risks are considered? What do you..
Suppose a company incurs the following cost: labor, $600; equipment, $300; and materials, $200. The company owns the building, so it doesn't have to pay the usual $900 in rent. a) What is the total accounting cost? b) What is the total economic cost?..
What is the nature of oligopolies? What is the nature of monopolies? What is the nature of monopolistic? What is the nature of pure competition?
According to the BLS, the CPI rose 3.8% in August of this year compared to a year earlier. Food prices rose 4.6% and clothing prices were up 4.2%, while new car prices rose 3.8%, and medical care was up 3.2%. What percentage change in the CPI up unti..
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