All of the following are types of decisions that can be made at the margin EXCEPT:
a) whether to grow beans or corn on a large farm
b) whether or not to hire 100 new workers
c) whether to leave early in the morning or late in the day for a trip
d) whether or not to go on a vacation
Ans: d) whether or not to go on a vacation
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Consider a mutual fund with a 6 percent back-end load that decreases to 0 percent in the seventh year. How much of the load will an investor have to bear if she sells it off in the second year?
a. 4 percent of the load b. 3 percent of the load c. 6 percent of the load d. 5 percent of the load e. 2 percent of the load
When compared to a closed shop, a union shop provides the hiring firm with
a. more skilled labor b. more flexibility in exercising its right to choose its own labor c. less flexibility in exercising its right to choose its own labor d. less skilled labor e. labor at a higher wage rate