​Whenever firms in a perfectly competitive market produce the output level where marginal revenue equals marginal cost, we know that the firm is earning an economic profit.

If the rate of exchange for a pound is $4, the rate of exchange for the dollar is

A) ¼ pound.
B) 4 pounds.
C) $0.25.
D) $1.00.

Managing cultural diversity involves

A) forming different pay structures for various groups.
B) creating separate career tracks for employees with families.
C) avoiding the use of affirmative action policies.
D) reducing cultural diversity by selective hiring.
E) encouraging career development for women and minorities.

Group polarization

A) occurs when one or more group members feel pressured to conform to the group's decision even if they personally disagree.
B) occurs when two or more groups interact with one another on an informal basis.
C) is when a group is more likely to move toward a more extreme position than members might have done individually.
D) sets up a number of independent groups to work on opposing sides of an issue.
E) assigns each team member as a "critical evaluator" with the responsibility to express opinions and objections freely.

Federal government bonds have no risk premium because they carry no risk of any kind.

The income statement isolates a key figure called "income from sustainable operations."