We would not consider ________ an act of capital investment.
A. a florist delivering roses on Valentine's Day
B. a company purchasing solar panels for its headquarters
C. a son paying for his mother to go back to college
D. a city government building a new fire station
Answer: A
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Suppose a firm pollutes a river when it produces a product. To achieve the efficient amount of output, a government could impose a ________ that equals the ________ of the pollution
A) pollution charge; marginal social cost B) pollution charge; marginal external cost C) pollution tax; marginal social cost D) pollution tax; marginal external cost E) pollution subsidy; marginal social cost
If the growth rate of multifactor productivity is 2.5, and b = 0.25, k = 4, n = 2, and y = 5, then the growth rate of labor productivity is
A) 3.0. B) 8.0. C) 2.0. D) 2.5.
Nations typified by high rates of illiteracy, high unemployment, high fertility rates, and exports of primary products are known as ________
a. developed countries b. high-income countries c. industrial market countries d. developing countries
If Les can produce two pairs of pants per hour while Eva can produce one pair per hour, then it must be true that:
A. Les has both comparative and absolute advantage in producing pants. B. Les has a comparative advantage in producing pants. C. Les has an absolute advantage in producing pants. D. Eva has a comparative advantage in producing pants.