A nation can achieve higher economic growth if:
a. it devotes more resources to research and development.
b. the productivity of labor declines
c. taxes are imposed on investment in capital.
d. more resources are allocated to consumption goods.
a
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A concert in a crowded auditorium is ________ in consumption
A) non-excludable and non-rival B) excludable but non-rival C) excludable and rival D) non-excludable but rival
The price of a computer in the United States is $1,000. The price of a car in Germany is 10,000 euros. The current exchange rate is 0.9 euros per dollar
a) If a computer is exported from the United States to Germany with no barriers to trade, what will be the price of the computer in Germany? b) If a car is imported to the United States from Germany with no barriers to trade, what will be the price of the car in the United States? c) Suppose the dollar appreciates by 10 percent against the euro. How will the price of a computer exported from the United States change in Germany? d) Suppose the dollar appreciates by 10 percent against the euro. How will the price of a car imported to the United States from Germany change in the United States?
In order to raise the most revenue, the government is better off taxing the producers of a good for which demand is elastic
Indicate whether the statement is true or false
You've read about a soldier who, in the heat of battle, willingly sacrifices his or her life to save the lives of fellow soldiers. How can you best explain such a sacrifice in terms of utility analysis? a. The soldier makes an interpersonal comparison of utility and decides that the life of the soldier saved is less valuable than his own
b. The soldier makes an interpersonal comparison of utility and decides that the probability of getting killed is less than the probability of not getting killed, but waswrong. c. The soldier makes an interpersonal comparison of utility and decides that the probability of getting killed is less than the probability of not getting killed, and wasright, but the probability of getting killed was still greater than zero. d. In the heat of battle, the soldier may place an incredibly high value on saving a comrade's life, even higher than his own. e. In the heat of battle, a soldier doesn't think rationally.