Which of the following is a question answered with normative economic reasoning?
A. If the college offers free textbooks for students, will more students read their textbooks?
B. If the college provided less financial aid for out-of-state students, would more in-state students benefit?
C. If the college increased its enrollment requirements, would class size decline?
D. Should the college increase tuition to fund its athletic programs?
Answer: D
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All of the following are exempted from antitrust laws EXCEPT
A) labor unions. B) Microsoft Windows. C) professional baseball. D) hospitals.
The cost of using capital is equal to the market rental price as long as:
A. a firm rents all of the capital used in its production process. B. a firm owns all of the capital used in its production process. C. the cost of capital is expensed in the year the capital is purchased. D. a well-functioning rental market for capital exists.