Question 3
A medium-sized city has two major industries: financial services and manufacturing of electronic equipment. Suppose that restrictions on interstate competition in the market for financial services lead to a large expansion of the financial services sector in the city.
(a)What effect do you predict that this increase in jobs would have oil wages and housing prices in the city?
(b)What effect do you think there would be on the manufacturing sector in the city? Would you expect that manufacturing employment would rise or fall?
The net worth of a firm is its______.
A.total revenue minus total expenses
B.what the firm owns minus what the firm owes
C.income minus expenses
D.value of capital minus any depreciation
_______ conclusion, our firm will have to pay more attention to the needs of customers.
A.To
B.As
C.In
D.For
A.with difficulty
B.in a hurry
C.with firm steps
D.in wonder
A.in … to
B.with … by
C.as … for
D.by … with
The author appears to be very critical of
A.family firm owners.
B.shareholders.
C.managers.
D.landowners.
Question 1
A production function for a firm describes ______.
A.what should be produced to maximize profit.
B.what is technologically feasible when the firm produces efficiently.
C.what revenue is earned from producing efficiently.
D.what the firm produces with given inputs.