Is a company like Pullman’s justified in cutting wages when it has a large surplus of money? Does management have a higher obligation to the investor than to the laborer?  Is the businessperson the best interpreter of the public interest? Is a large-scale business  a purely private matter?

True or False: A liability is something you owe to another person or to a business. True False

Allowing an inventor to have the exclusive rights to market her new invention will lead to.... Which are the correct answer? (i) a product that is priced higher than it would be without the exclusive rights. (ii) desirable behavior in the sense that inventors are encouraged to invent (iii) higher profits for the inventor

#3

Spot trades must be settled:

Use the following information for questions 3-6.  The columns indicate the number of trains running.  Total railroad profits are the total profits to the railroad from running the specified number of trains.  Total lost farmer profits are total profits the farmer loses from a specified number of trains running. Trains   1 2 3 Total Railroad Profit $100 $200 $300 Total Lost Profit for Farmer $40 $130 $250   If the court were instead to protect the Farmer’s crops with a liability rule, what are joint Railroad-Farmer surplus?   A. $140   B. $50   C. $60   D. None of the above

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Patents restrict competing firms from copying new technologies and are therefore a barrier to entry. What would happen in the renewable energy markets if patents were no longer awarded? Select one: a. Renewable energy prices would fall, and research into new energy technologies would increase. b. Current renewable energy companies would suffer, but new companies would benefit. c. Renewable energy markets would shrink, and energy prices would rise. d. Research into new energy technologies would fall, and new companies would enter renewable energy sectors which they can copy.

Which statement best describes a characteristic of a command economy? The government prohibits a formation of monopolies in the economy. The government owns most production resources and businesses. The government has minimal involvement in the economy The government encourages innovation among private businesses

Real-Time Data Analysis Exercise The following table contains the most recent household expenditure data from FRED*. *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. Using the data from FRED, compute the value for personal consumption expenditures for the first quarter of 2021. (Enter your response rounded to one decimal place.) Title Value $ 15,069.2 billion Personal Consumption Expenditures Personal Consumption Expenditures: Durable Goods Personal Consumption Expenditures: Nondurable Goods $1,938.577 billion $3,269.759 billion $1,049.521 billion $9,860.896 billion Private Residential Fixed Investment Personal Consumption Expenditures: Services According to these data, the share of total household expenditures devoted to goods is percent. (Enter your response rounded to one decimal place.)