The Nobel Prize winner William Shockley feels strongly that blacks do not have a hereditary racial inferiority in intellectual performance. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
The “NPV Criterion” is that a firm should invest in a new capital project if A) the present value of the expected future cash flows is larger than the present value of the cost of the investment. B) the future value of the expected future cash flows is larger than the cost of the investment. […]
Date: September 9th, 2020
You are currently using three printing presses and five employees to print 100 sales manuals per hour. If the MRTS at this point is 0. 5 (capital is on the vertical axis of the isoquant map), then you would be willing to exchange ________ employees for one more printing press in order to maintain current […]
Date: September 9th, 2020
Suppose a technological innovation shifts the marginal cost curve downward. Which one of the following cost curves does NOT shift? A) Firm’s short-run supply curve B) Average total cost curve C) Average variable cost curve D) Average fixed cost curve ANSWER D
Date: September 9th, 2020
The region of the U.S. with the highest poverty rate is the Midwest. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
If a racial group exhibits lower scores on IQ tests, this is evidence of their reduced intelligence. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
A multiplant monopolist can produce her output in either of two plants. Having sold all of her output she discovers that the marginal cost in plant 1 is $30 while the marginal cost in plant 2 is $20. To maximize profits the firm will A) produce more output in plant 1 and less in the […]
Date: September 9th, 2020
If the isoquants in an isoquant map are downward sloping but bowed away from the origin (i.e., concave to the origin), then the production technology violates the assumption of: A) technical efficiency. B) free disposal. C) diminishing marginal returns. D) positive average product. ANSWER C
Date: September 9th, 2020
The thesis of racial inferiority is rather recent. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
Whites are about equally divided over the cause for black poverty being racial inferiority or discrimination. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
