In order to be a public good a good must be both a collective consumption good and be nonexcludable
a. True b. False
b
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If Mario's Pizza, a large frozen pizza distributor, builds a tomato sauce plant near Red Tomatoes, a large tomato farm, to reduce the costs of transporting fresh tomatoes, the tomato sauce plant is a(n) ________.
A) negotiation cost B) monitoring cost C) information asset D) transaction-specific asset
Which of the following types of unemployment is the hardest to reduce?
a. Cyclical unemployment b. Structural unemployment c. Voluntary unemployment d. Frictional unemployment e. Seasonal unemployment
Suppose the population (age 16 and over) of Cameroon is 250 million; 10 million are unemployed, and 125 million hold jobs. The employment/population ratio in Cameroon is
a. 8 percent. b. 50 percent. c. 54 percent. d. 92 percent.
Suppose a certain firm is able to produce 165 units of output per day when 15 workers are hired. The firm is able to produce 181 units of output per day when 16 workers are hired, holding other inputs fixed. The marginal product of the 16th worker is
a. 10 units of output. b. 11 units of output. c. 16 units of output. d. 181 units of output.